U.S. News

Trump reportedly didn't pay income taxes for two years during the early 90s

Republican presidential candidate Donald Trump.
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Presumptive Republican presidential nominee Donald Trump reportedly paid little to no taxes for at least two years during the early 1990s, according to Politico, citing records it obtained from New Jersey gambling authorities.

The news organization said that the billionaire's avoidance of income taxes during those years was not illegal because Trump's hotel and casino holdings sustained "significant losses" in a tough economic environment.

"Welcome to the real estate business," Trump said in an email to Politico. A spokeswoman for Trump declined to comment further to CNBC.

The presumptive GOP nominee has come under fire for not releasing his income tax statements during the course of his presidential campaign. The Washington Post previously reported that Trump did not pay income taxes in 1978 and 1979. It was also reported that Trump received a small tax credit, $302, intended for those with incomes below $500,000.

Read the full report on Politico.