Bushes pay more than $500,000 in 1999 taxes

April 17, 2000
Web posted at: 5:45 p.m. EDT (2145 GMT)

AUSTIN, Texas (CNN) -- GOP presidential hopeful George W. Bush and his wife Laura earned an estimated $1.3 million in 1999, and paid $514,000 in taxes, the Bush campaign said Monday.

The Texas governor's 1999 income included the $97,964 Bush earned from the state of Texas, and monies from state and federal blind trusts. Bush's salary is $115,345, but he forfeited roughly $17,000 to reimburse the state for the time he spent campaigning outside Texas.

Bush and his wife reported they donated $210,000 to churches and charities in 1999. That amount included $130,000 in royalties from the governor's book, "A Charge to Keep," which went to the Boy Scouts of America, the Girl Scouts of America, the Boys and Girls Clubs of America, and Girls, Inc., formerly known as the Girls Club of America.

According to the campaign, a trustee of Bush's blind trust files his tax return. Because the governor had not been given a copy by Monday's deadline for filing, the campaign said it "assumes" an extension has been filed on behalf of the couple, as has occurred in each of the past three years.

No tax return has been delivered and "therefore the campaign assumes an extension has been filed, as has been the case in previous years because information from the state trust is not available until later in the year," the statement said.

In a federal financial disclosure report filed in May, Bush said he owned $7 million in U.S. Treasury notes and estimated the blind trust's worth at $1 million. He had two money market accounts worth up to $1.25 million each.

In 1998, the Bushes paid $3.7 million in taxes on an estimated income of $18.4 million, the bulk of which came from the sale of Bush's interest in the Texas Rangers baseball team.

Last Friday, the office of Vice President Al Gore said the Democratic presidential hopeful and his wife Tipper earned $240,930 and paid $59,178 in federal income taxes in 1999.

The Gores reported income as follows: the vice president's salary of $175,400; $1,267 in tax-exempt interest; $643 in taxable refunds; $13,989 in business income; $29,260 in capital gains; and $20,371 in rental real estate royalties.

For most of the country, Monday was tax filing day because April 15 fell on a Saturday.