GOP VP candidate Paul Ryan releases tax returns - Chicago News and Weather | FOX 32 News

GOP VP candidate Paul Ryan releases tax returns

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(Gage Skidmore / Flickr) (Gage Skidmore / Flickr)

WASHINGTON (AP) - When it comes to their federal taxes in the last two years, Republican presidential candidate Mitt Romney has paid a lower federal tax rate than his running mate, congressman Paul Ryan.

The Republican campaign released Ryan's tax returns on Friday.

Ryan paid an effective federal tax rate of just over 17 percent in 2010 and about 20 percent in 2011.

In 2010, Ryan and his wife reported an adjusted gross income of just over $215,000. In 2011, their reported adjusted gross income was just over $323,000.

Romney paid about $3 million in federal income taxes in 2010, an effective federal tax rate of 14 percent. For 2011, Romney's campaign estimates that he will pay about $3.2 million with an effective federal tax rate of about 15.4 percent.

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