Carter Releases Tax Forms, Challenges Rangel and Geithner

Posted October 28, 2009 at 3:37pm

Rep. John Carter (R-Texas) publicly released his tax returns for 2006 and 2007 to prove that he paid taxes on income from sales of Exxon stock after Roll Call reported last week that he had failed to disclose about $300,000 in profits from those sales.

Carter took to the House floor Wednesday afternoon, challenging Ways and Means Chairman Charlie Rangel (D-N.Y.) and Treasury Secretary Timothy Geithner to make their tax returns public as well. Both Geithner and Rangel have previously admitted that they failed to pay taxes on income; Carter said releasing their tax returns would prove that both men are now complying with tax laws.

Carter has been the point man in a Republican effort to strip Rangel of his gavel while the ethics committee investigates Rangel’s failure to report income on financial disclosure forms, among other alleged ethic violations. Carter also argues that Rangel should pay penalties and interest on the taxes he failed to pay, and has offered legislation that would waive penalties for other taxpayers.

After Carter acknowledged he had failed to disclose profits on his sales of Exxon stock in 2007 and 2008, Minority Leader John Boehner (R-Ohio) said he still believed Carter was an appropriate person to lead the charge against Rangel.

“If anyone was thinking that I was going to slack off defending the rule of law because of a House disclosure error, they obviously have got another thing coming,— Carter said Wednesday.