Clinton releases tax return, repeats challenge to Trump

U.S. Democratic presidentialcandidate Hillary Clinton paid an effective federal tax rate of34.2 per cent last year and a combined federal, state and localeffective tax rate of 43.2 per cent, her campaign said on Friday.

Clinton's running mate, U.S. Senator Tim Kaine of Virginia,along with his wife, Anne Holton, paid a federal effective taxrate of 20.3 per cent in 2015, the campaign said.

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"Hillary Clinton and Tim Kaine continue to set the standardfor financial transparency," Clinton campaign aide JenniferPalmieri said in a statement. "In stark contrast, Donald Trumpis hiding behind fake excuses and backtracking on his previouspromises to release his tax returns."

It is customary for U.S. presidential candidates to maketheir tax returns public, although they are not required by lawto do so.

Clinton's tax returns have been made public, in some form,every year since 1977.

Trump, a New York businessman, and his lawyers have cited anaudit by the Internal Revenue Service as a reason he has refusedto release his returns. Trump also has said his taxes are noone's business and that they reveal little.

The IRS has said Trump can release his tax returns evenwhile under audit.

Refusal raises questions

On Thursday, Trump's special counsel, Michael Cohen, toldCNN he would not allow Trump to release them until the auditsare complete.

Critics, including 2012 Republican presidential candidateMitt Romney and other fellow Republicans, have said Trump'srefusal raises questions about his net worth, his charitablecontributions, his business dealings and various other ties,including with Russia.

Clinton has pounced on the issue, releasing an online videoon Friday highlighting high-profile Republicans urging Trump torelease his taxes. On Thursday, she raised the issue during aneconomic speech in Michigan.

"He refuses to do what every other presidential candidate indecades has done and release his tax returns," she told thecrowd.

Politico has reported that Trump paid zero to very littletaxes for two years in the 1990s, and a New York Times businesscolumnist on Friday quoted a number of tax lawyers andaccountants saying that could still be the case.

Clinton's campaign has released tax returns going back to2007. Clinton, who now lives in Chappaqua, New York, paid anaverage effective federal tax rate of about 32 per cent from 2007to 2014 and an effective combined tax rate of approximately 40.5 per cent.