Hillary Clinton Releases Her Tax Returns
On the same Friday afternoon that the State Department put out a batch of her emails, the Democratic front-runner released her tax filings since 2007.
Hillary and Bill Clinton made a combined $141 million and paid $43.9 million in taxes between 2007 and 2014, according to new tax-return information released by Clinton's campaign Friday evening.
The campaign released eight years of tax returns, from 2007 to 2014, the most recent year available. Also released were an itemized list of speech income and sources of business income for both Bill and Hillary Clinton.
The new returns show that in 2014, the Clintons paid an effective federal tax rate of 35.7 percent and a combined federal, state, and local tax rate of 45.8 percent. In 2013, their effective federal tax rate was 35.4 percent and their combined rate was 44.6 percent.
As for charitable donations, the Clintons gave just under $15 million over the eight-year period, which is 10.8 percent of their total income. The vast majority of that — about $14.8 million — went through the Clinton Family Foundation, the vehicle the Clintons frequently use to make personal donations, and another $57,000 went to the Clinton Global Initiative. The Clintons' other donations were to the Nelson Mandela Foundation ($60,000), Humana Challenge ($46,000), the First Methodist United Church ($20,000), Exploring the Arts ($4,100), St. Stephen's Armenian Apostolic Church ($2,500) and the Hot Springs Class of '64, Bill Clinton's high school graduating class in Arkansas ($200).
The Clintons' annual income increased steadily each year since 2008. That year, their combined total income was $5.6 million; by 2014, it had reached $28.3 million. The couple's most lucrative years were 2013 and 2014, when Hillary Clinton had left her post at the State Department and had joined the paid speaking circuit.
"We've come a long way from my days going door-to-door for the Children's Defense Fund and earning $16,450 as a young law professor in Arkansas — and we owe it to the opportunities America provides," Clinton said in a statement accompanying the release. "I want more Americans to have the chance to work hard and get ahead, just like we did."
Friday's release adds to information from the Clintons' personal financial disclosure back in May. According to that document, Bill and Hillary Clinton made more than $25 million delivering just over 100 speeches since the beginning of 2014.
The new disclosures include itemized speech income for both Bill and Hillary Clinton in 2013. That year, Bill Clinton gave 41 paid speeches and earned a total of $13.2 million from those speeches. His highest-grossing appearances included a speech to Handelsbanken Capital Markets in Stockholm, for $750,000, and one to Leaders and Company, Ltd. in Abeokuta, Nigeria, for $725,000.
Hillary Clinton also gave 41 speeches in 2013, earning $9.7 million in total speaking fees. Her standard rate appeared to be $225,000 for most speeches; her most expensive ones were an appearance for the Jewish United Fund/Jewish Federation of Metropolitan Chicago, for which she made $400,000, and one to Beaumont Health System in Troy, Mich., for $305,000.
The newly released tax returns also revealed how much money Bill Clinton collected for his role as an honorary chancellor of Laureate Education Inc., a massive for-profit college system. From 2010 through 2014, the former president took in $16.5 million from the organization. He left Laureate, which has been a major donor to the Clinton Foundation, in April of this year, less than two weeks after his wife launched her presidential campaign.
During her four-year tenure at State, Clinton made a total of $652,555 in salary. The newly released returns also include her total salary for her final two years in the Senate, in 2007 and 2008 (and into early 2009): during those years, her total Senate earnings were $313,775.
The returns illustrate how Hillary Clinton's last run for the presidency impacted the couple's finances.
In 2007, the Clintons had an adjusted gross income of $20.9 million and paid more than $5.2 million in total taxes. Hillary Clinton also managed to make $123,372 in net profit from her work as an author, while the former president earned more than $9 million in speaking fees and $4.3 million from his own work as an author. They also earned made $2.7 million in income from partnership or S corporation income.
In 2008, during Hillary's run for the presidency, the Clintons saw their adjusted gross income drop drastically, down to $5.5 million, and as a result paid a total tax amount of $1.68 million. Hillary's income as an author also halved and Bill made only $113,813 as an author. The former president also made only slightly more than half of what he made in the previous year in speaking fees, at 4.6 million.
Hillary Clinton used Friday's release to go after her Republican colleagues, even calling some out by name. "We hear very different principles from the Republican candidates running for President," she said, mentioning Jeb Bush and Marco Rubio. "They want to give me another tax cut I don't need instead of putting middle class families first."
Friday's set of tax returns follows a disclosure of seven years' worth of returns that Clinton released during her 2008 presidential bid. Then, the campaign released the Clintons' tax returns between 2000, when Bill Clinton left office, and 2006. (The Clintons have released all their tax returns, during various past campaigns and in varying forms, dating back to 1977.) The documents showed the Clintons paid just under $34 million in taxes, which was 31 percent of their adjusted gross income, during that period. The pair's combined cumulative gross income for those years was $109 million, and they donated $10.3 million to charity.
Those disclosures also showed that Clinton's book income, for her 2003 Living History, was $10,457,083. Bill Clinton's book income was $29,580,525 and his speaking fees totaled $51,855,599.
This article has been updated.
Eric Garcia, Michael J. Mishak, and Adam Wollner contributed to this article