Trump says he 'brilliantly' used U.S. tax laws
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Republican presidential nominee Donald Trump arrives at a campaign rally in Manheim, Pennsylvania, U.S., October 1, 2016. REUTERS/Mike Segar
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
By Emily Stephenson
PUEBLO, Colo. (Reuters) - Republican presidential nominee Donald Trump said on Monday he “brilliantly used" U.S. tax rules to his advantage in trying to limit the amount he paid in taxes, arguing it helped him survive a difficult period in the real estate market.
"I was able to use the tax laws of this country and my business acumen to dig out of the real estate mess ... when few others were able to do what I did," Trump told a crowd in Pueblo, Colorado.
It was Trump's first extended comments since a New York Times report said he had claimed a $916 million loss on his 1995 tax returns, which experts said might have allowed him to avoid paying federal income taxes for 18 years.
Hillary Clinton, the Democratic nominee for the Nov. 8 election, has seized on the report, arguing the tax records undercut Trump's business acumen.
“What kind of genius loses a billion dollars in a single year? This is Trump to a T, he’s taken corporate excess and made a business out of it,” Clinton told a rally in Toledo, Ohio, on Monday.
Clinton has repeatedly called on Trump to release his full returns, as presidential candidates have done in the past.
Trump was dismissive of the Times' story in his Pueblo remarks, saying the media was "obsessed with an alleged tax filing from the 1990s."
The Trump campaign has not said, however, that the Times’ story was inaccurate. Instead, his supporters, including former New York Mayor Rudy Giuliani and New Jersey Governor Chris Christie have contended that Trump’s aggressive use of provisions under U.S. law to minimize his tax liability was evidence of his “genius” as a businessman and real estate investor.
Trump picked up on that theme on Monday. “I have brilliantly used those laws," he told the crowd in Pueblo.
The flap over Trump's taxes comes during what has been a difficult stretch for the candidate, who faced criticism for his performance in the Sept. 26 debate against Clinton and his subsequent public spat with former Miss Universe Alicia Machado.
A Reuters/Ipsos online poll last week showed a majority of Americans felt Clinton won the debate, the first of three scheduled between the candidates..
On Monday, the state of New York ordered Trump's charity, the Trump Foundation, to suspend raising money amid a probe into its activities.
(Additional reporting by Amanda Becker; Editing by Peter Cooney)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Delta Air Lines (DAL) Announces Dan Csont as Vice President of Brand Management
- North Korea's Kim guides special operations drill targeting South
- U.S. Defense Secretary Carter in Iraq for talks on Mosul
Create E-mail Alert Related CategoriesReuters
Related EntitiesDonald J. Trump
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!