Biden and Harris release tax returns before debate

Biden and Harris release tax returns before debate
The tax returns were filed just hours ahead of the first presidential debate. Source: Reuters
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Daily US Times: Democratic presidential nominee Joe Biden has released his tax returns just hours ahead of the first presidential debate with Donald Trump.

According to the filings, Mr Biden and his wife Jill paid nearly $288,000 in income tax last year,

He has called on President Trump to release his returns.

The move follows by a New York Times report that said Mr Trump paid just $750 in income tax in 2016. Mr Trump said the claims were “fake news”.

For years the Republican President has been criticised by Democrats for not making his tax returns public as his predecessors did.

Mr Trump says his tax returns are currently being audited, and that he will not release them while an inspection is continuing. There is no legal reason why he cannot release his returns while an audit is taking place.

The tax returns of Mr Biden showed he paid $346,000 in federal taxes and other payments last year on an income of nearly $985,000 before seeking a refund of nearly $47,000 they said they had overpaid.

Kate Bedingfield, Mr Biden’s deputy campaign manager, described the release of the returns as a “historic level of transparency,” saying: “Mr President, release your tax returns or shut up.”

Mr Biden’s running mate for the upcoming election Kamala Harris and her husband Doug Emhoff reported $3,018,127 in taxable income, most of this was from Mr Emhoff’s partnership at a law firm. The couple paid $1,185,628 in taxes.

The New York Times claimed president Trump paid no federal income taxes in 11 of 18 years of tax records that were examined.

After the success of The Apprentice TV show, he did initially pay significant taxes – $95m over 18 years. But Mr Trump later got most of that back via a $72.9 million federal tax fund. The refund remains under review.

The Times also alleges Mr Trump claimed tax deductions on expenses including $70,000 of hair styling for television.

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