BREAKING NEWS

Romney, Obama teams clash over tax returns

By REUTERS

AUGUST 17, 2012 20:49

WASHINGTON - US President Barack Obama's re-election campaign said on Friday that if Mitt Romney releases five years of his tax returns, it would not press the Republican presidential challenger to release more - a proposal quickly rejected by Romney's campaign.

Democrats have criticized Romney for not providing more than two years of tax information and questioned whether the millionaire former private equity executive has something to hide about his wealth.

Romney said on Thursday he had paid at least a 13 percent tax rate for the last 10 years, but did not release tax documents. The former Massachusetts governor called Democrats' focus on his taxes a distraction from the issues of jobs and the economy.

"Governor Romney apparently fears that the more he offers, the more our campaign will demand that he provide," Obama campaign manager Jim Messina said in a letter to Romney campaign manager Matt Rhoades.

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