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Romney tax returns revealed

  • Couple paid $6.2 million in taxes over the last two years
  • Returns show GOP contender has 14% tax rate
Romney tax returns revealed

Mitt Romney finally released his taxes Tuesday morning, showing that he paid $6.2 million in taxes on $42.7 million in income over the past two years.

PDF: See the Romneys' 2010 and 2011 tax returns

Romney and his wife Ann reported $21.7 million in 2010 income, paying $3 million in taxes. They estimated their 2011 income was $21 million with a $3.2 million tax bill. The couple's tax rate is 14%, according to CNN Money.

The disclosure came after repeated calls by political figures, including rival Newt Gingrich, for the former governor and businessman to show some transparency about his finances.

Gingrich, who on Monday went toe-to-toe with the former Massachusetts governor in a Florida debate, released his own tax returns last week, showing that he and wife Callista earned a gross income of $3.1 million in 2010, largely from various business ventures. They paid $994,708 in federal tax, according to the return, for a tax rate of 31%, according to news reports.

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