Mitt Romney releases 2011 tax returns - New York News

Mitt Romney releases 2011 tax returns

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WASHINGTON (AP) -- Mitt Romney is releasing his 2011 tax returns.

Romney aides on Friday said the Republican presidential nominee would give the public a look at his finished tax forms. Ahead of their release, expected at 3 p.m., aides said Romney earned almost $13.7 million last year and paid more than $1.9 million in taxes -- an effective tax rate of 14.1 percent.

Romney's campaign earlier estimated that Romney would pay about $3.2 million in taxes.

Romney paid about $3 million in federal income taxes in 2010 -- or 13.9 percent.

Critics, including President Barack Obama, have urged Romney to release more than just the two years of returns and follow his father's model. When George Romney ran for president, he released 12 years of tax returns.

The younger Romney is refusing.

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