Skip to content
Subscriber Only
Business
Pursuits

Romney Forgoes Full Charity Tax Break for 13% 2011 Rate

Republican presidential candidate Mitt Romney chose to pay more in taxes than he needed to, forgoing about $250,000 in deductions to keep his tax rate above 13 percent.

Romney claimed tax deductions for $2.25 million of the $4 million he made in charitable contributions in 2011, his campaign said yesterday before releasing his tax returns. The decision to pay more in taxes than necessary was political. Romney had told reporters that he hadn’t paid an effective rate of less than 13 percent over the past decade, in an effort to deflect Democratic attacks.