Florida Sen. Marco Rubio released five years’ worth of income and federal tax data Saturday, saying the rates his family paid were in line with tax rates paid by Americans of similar income levels.
But the campaign only released the top lines of the forms, not the complete documents, providing only a limited look at Rubio’s itemizations or how he accounted for much of his money. Democrats and some Republicans quickly pounced on Rubio for the limited release.
And the release comes as Republican front-runner Donald Trump has been under pressure to release his tax returns since 2012 GOP nominee Mitt Romney warned there could be a “bombshell” in the documents. Trump has so far declined to do so, saying he’s being audited.
Rubio’s campaign said on its website that the family has earned $2.29 million since 2010, paying a total of $526,092 in taxes on that income. The campaign published joint federal tax returns from Rubio and his wife, Jeanette.
“There is no doubt the Rubio family has come a long way from the days when their largest monthly expense was a check to Sallie Mae and checks were sent in the mail to pay bills with the hope the payment did not arrive before the next paycheck was deposited into their account,” he said.
The Rubios’ income includes his earnings from his U.S. Senate salary, Florida International University, Rubio’s legal work, his books and Jeanette’s work at a philanthropic foundation, the campaign said.
Rubio saw a significant spike in income in 2012, earning $929,439 in 2012, the year his book, “An American Son: A Memoir” was released.
Rubio’s tax rate was 27.4% that year. The average tax rate for similar earners was 22.8%, the campaign said, citing the Tax Foundation, a conservative group.
In 2014, Rubio earned $335,561, paying a tax rate of 19.3%.
Democrats quickly attacked Rubio for the limited release, saying Romney and former Florida Gov. Jeb Bush released their full returns. They questioned why Rubio isn’t willing to do the same thing he’s calling on Trump to do.
“Apparently he’s hoping that most wouldn’t expect a full accounting of his consulting company, additional corporate ownerships, rental income from properties co-owned with (Rubio friend) David Rivera, capital gains, household employees, and self-employment,” said Kevin McAlister, a spokesman for American Bridge 21st Century, which conducts opposition research on Republican candidates.
“What is Marco Rubio hiding by not reaching the bar he’s setting for Trump and releasing his full tax returns?” McAlister added.
And Mike Murphy, the director of Right to Rise USA, the Bush-aligned super PAC, said Rubio should release more returns to put more pressure on Trump.
“2 page top lines is a bit too clever by half… They should release ten years. Full tax docs. Raise heat on Trump,” Murphy said.
