Rep. Tim RyanTimothy (Tim) RyanMinnesota AG Keith Ellison says racism is a bigger problem than police behavior; 21 states see uptick in cases amid efforts to reopen Congress must fill the leadership void Pelosi pushes to unite party on coronavirus bill despite grumbling from left MORE (D-Ohio) on Monday released 10 years of his tax returns, becoming the latest 2020 Democratic presidential candidate to release the documents in order to draw a contrast with President TrumpDonald John TrumpSenate advances public lands bill in late-night vote Warren, Democrats urge Trump to back down from veto threat over changing Confederate-named bases Esper orders ‘After Action Review’ of National Guard’s role in protests MORE.
“Full and complete transparency with the American people is paramount to Congressman Tim Ryan,” a spokesperson for the candidate said in a statement. “He understands that unity is built on trust earned with honesty and respect.”
“While President Trump’s lies are designed to fracture our communities and distract from his own failures – Tim Ryan knows that America is stronger. And he’s committed to restoring the unity and trust our country deserves.”
Trump in 2016 became the first major-party presidential nominee to not release his tax returns. Democratic presidential candidates have been making their tax-returns public an effort to argue that they are more transparent about their finances than the president.
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Ryan released his tax returns from 2009 to 2018.
Ryan’s 2018 return shows that he and his wife, Andrea, had adjusted gross income of $220,754. Most of their income came from the candidate’s congressional salary and his wife’s income as an elementary-school teacher.
The couple had total taxes of $31,440, for an effective tax rate of 14.2 percent.
People filed their 2018 tax returns this year, and those returns are the first that reflect Trump’s tax-cut law, which every congressional Democrat opposed. The Ryans appear to have gotten a tax cut under the law: Their adjusted gross income in 2018 was almost $2,000 higher than it was in 2017, but they had about $4,000 less in total tax in 2018.
Ryan and his wife appear to have benefited from the GOP tax law’s expansion of the child tax credit, which they claimed in 2018 but were not eligible to claim in 2017. The tax law increased the income level for which the credit phases out from $110,000 for a married couple to $400,000.
The Ryans took the standard deduction of $24,000 for 2018. They claimed $28,170 in itemized deductions for 2017, including $1,500 in charitable contributions.
Besides Ryan, a host of other 2020 Democratic presidential candidates have released their returns. Those candidates are: Sens. Bernie SandersBernie SandersThe Hill’s 12:30 Report: Milley apologizes for church photo-op Harris grapples with defund the police movement amid veep talk Biden courts younger voters — who have been a weakness MORE (I-Vt.), Elizabeth WarrenElizabeth WarrenWarren, Democrats urge Trump to back down from veto threat over changing Confederate-named bases OVERNIGHT DEFENSE: Joint Chiefs chairman says he regrets participating in Trump photo-op | GOP senators back Joint Chiefs chairman who voiced regret over Trump photo-op | Senate panel approves 0B defense policy bill Trump on collision course with Congress over bases with Confederate names MORE (D-Mass.), Kamala HarrisKamala Devi HarrisRand Paul introduces bill to end no-knock warrants The Hill’s Campaign Report: Biden campaign goes on offensive against Facebook McEnany says Juneteenth is a very ‘meaningful’ day to Trump MORE (D-Calif), Cory BookerCory Anthony BookerRand Paul introduces bill to end no-knock warrants Black lawmakers unveil bill to remove Confederate statues from Capitol Harris grapples with defund the police movement amid veep talk MORE (D-N.J.), Kirsten GillibrandKirsten GillibrandWarren, Democrats urge Trump to back down from veto threat over changing Confederate-named bases Warren, Pressley introduce bill to make it a crime for police officers to deny medical care to people in custody Senate Dems press DOJ over coronavirus safety precautions in juvenile detention centers MORE (D-N.Y.) and Amy KlobucharAmy KlobucharHillicon Valley: Biden calls on Facebook to change political speech rules | Dems demand hearings after Georgia election chaos | Microsoft stops selling facial recognition tech to police Democrats demand Republican leaders examine election challenges after Georgia voting chaos Harris grapples with defund the police movement amid veep talk MORE (D-Minn.), former Rep. Beto O’RourkeBeto O’RourkeBiden will help close out Texas Democrats’ virtual convention: report O’Rourke on Texas reopening: ‘Dangerous, dumb and weak’ Parties gear up for battle over Texas state House MORE (D-Texas) and Washington Gov. Jay InsleeJay Robert InsleeInslee calls on Trump to ‘stay out of Washington state’s business’ Seattle mayor responds to Trump: ‘Go back to your bunker’ Trump warns he will take back Seattle from ‘ugly Anarchists’ if local leaders don’t act MORE (D).