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| US Republican hopeful Mitt Romney 'pays 13.9% tax' | |
| (40 minutes later) | |
| US Republican presidential candidate Mitt Romney has said he expects to pay about $6.2m (£4m) in taxes on income of $42.5m in the last two years. | US Republican presidential candidate Mitt Romney has said he expects to pay about $6.2m (£4m) in taxes on income of $42.5m in the last two years. |
| That makes for a tax rate of 13.9% in 2010 and an expected rate of 15.4% in 2011, his campaign said. | That makes for a tax rate of 13.9% in 2010 and an expected rate of 15.4% in 2011, his campaign said. |
| His income places him among the top earners in the US and his taxes have become a campaign issue. | His income places him among the top earners in the US and his taxes have become a campaign issue. |
| Mr Romney was an early favourite in state primaries but lost the latest, in South Carolina, to rival Newt Gingrich. | Mr Romney was an early favourite in state primaries but lost the latest, in South Carolina, to rival Newt Gingrich. |
| Mr Gingrich released his tax figures on Saturday, saying he paid nearly $1m last year, a rate of about 31%. | |
| Mr Romney has been attacked by his rivals as a wealthy businessman who cut jobs. He is a multi-millionaire with three homes and lives mainly on income from his investments, for which only 15% tax is payable. Earned income is taxed at up to 35%. | |
| On Monday, before he released his income and tax figures, he defended his record. | |
| "I pay all the taxes that are legally required and not a dollar more. I don't think you want someone as the candidate for president who pays more taxes than he owes.'' | |
| On Tuesday, Mr Romney released his 2010 tax papers and estimates for his 2011 taxes, for which he has not yet filed a return. | |
| Gingrich surge | |
| Mr Romney had promised to release the figures, saying the question of tax had become a distraction for his campaign, and he wanted to re-focus on the main issues. | |
| Mr Romney had led the Republican field since November and appeared to have won the first two contests of the campaign, in Iowa and New Hampshire. | |
| But the Iowa caucus result was overturned in a recount which gave a narrow victory to Rick Santorum. | |
| Mr Gingrich, who polled poorly in both Iowa and New Hampshire, won a convincing victory over Mr Romney in South Carolina after attacking Mr Romney over his business and tax records. | |
| The candidates now head to Florida, which holds its primary on 31 January. The state is seen as a major battleground state in the US general election, with a diverse electorate and where a lot of money will be spent campaigning. | |
| Primaries and caucuses will be held in every US state over the next few months to pick a Republican nominee before the eventual winner is anointed at the party convention in August to take on Democratic President Barack Obama in November. |