Report: Ryan amended financial disclosure reports

Alex Wong/Getty Images

(CBS News) Rep. Paul Ryan, Mitt Romney's new running mate, amended two years' worth of congressional financial disclosure reports in June to include an income-producing trust worth between $1 million and $5 million, USA Today reports.

The trust, which Ryan's wife Janna Ryan inherited in 2010 after her mother's death, was previously left off Ryan's financial disclosure reports. In documents filed with the Clerk of the House, Ryan said they were left off his 2010 and 2011 reports as an "inadvertent omission," according to USA Today. He reported that the trust produced at least $15,000 in income in 2010 and between $100,001 and $1 million in 2011.

Members of Congress every year are required to report their wealth and liabilities in broad ranges, so it's impossible to determine their exact net worth. USA Today notes that members of Congress often amend their financial disclosure reports as Ryan has and that there's nothing to suggest Ryan's omission wasn't inadvertent.

Ryan made the new disclosure as Mitt Romney's presidential campaign was vetting his potential as a running mate. Ryan told CBS News' Bob Schieffer on "60 Minutes" that he turned over "several years" worth of tax returns to the Romney campaign as part of the vetting process but that, like Romney, he would only publicly release two years' worth.

"What I hear from people around this country, they're not asking where the tax returns," Ryan told Schieffer. "They're asking where the jobs are. Where's the economic growth? Those are the issues that matter. I think these are more or less distractions to try and take us off the fact that the president has given us failed policies that aren't working, that are putting us deeper into debt, that are costing us jobs. And so, we're going to focus on what it takes to turn this country around and get people back to work."

[itgranny]

Funny, when the Dems find they've not reported something they should have (ie Tom Daschel of South Dakota for not reporting donated limo rides) it's called cheating. But when the Repubs do it, it's called amending.

[SimonBau]

Gotta give Ryan props for getting familiar with the Romney campaign strategy this fast. The strategy of lying through your teeth and deceiving the public as much as possible.
On other news...http://simonbau.blog.com/2012/08/15/its-the-taxes-stupid/

[92F150]

Ryan told Schieffer. "They're asking where the jobs are..." It appears Ryan could hire a few to make some new jobs from that trust that made between $100,001 and $1 million in 2011.

[MB-1234]

"The trust, which Ryan's wife Janna Ryan inherited in 2010 after her mother's death, was previously left off Ryan's financial disclosure reports."

Wow - isn't that odd considering SHE'S A TAX ATTORNEY !!!! Sorry, but it doesn't pass the smell test that someone inherits "an income-producing trust worth between $1 million and $5 million" and then forgets about it. Who wants to buy a bridge?

[MB-1234]

by _7luckyseven August 16, 2012 8:22 PM EDT
What are you gurgling about? no one said they didn't report the income to the IRS or pay tax on it. They just didn't initially disclose it as part of his congressional duty. You democrats are such complete corrrupt dishonest criminals that you think every body stinks as disgustingly as you!

Right so you want a guy who can't get his taxes done ON TIME like most Americans to be the President, and the guy who made an "inadvertent omission," of $1-5M to be the VP? Really?

And I do think Ryan stinks - his plan for Medicare INCLUDES A MANDATE!!!! In his plan, anyone 55 or younger will have no choice but to pay over and above the Voucher that you get once your reach retirement ages. I seem to recall all of your Repugs complaining and complaining about the Romney-style "mandate" that's in the Affordable Healthcare Act - and yet, now you're backing your boy Ryan with his MANDATE!!!! Anyway your slice his plan - IT'S A MANDATE (or certain medical bankruptcy) And now you losers are BACKING IT!!!!!! LOLOLOLOL!!!!!!

And BTW - I think it's time for you to take your meds judging by your responses on this board.

[clydealan2]

Mitt's childhood home was Bloomfield Hills, MI; the fourth wealthiest city in the US. He was born into extreme wealth and has only known extreme wealth. I want to know if he has NOT PAID TAXES by manipulating the system. And: how the hell can this man identify with what the middle class struggle with? He cannot.

[Dancing-in-the-Streets]

Obviously he did more than you did! He's President of the United States of America! Can ya top that?

thought not!

OBAMA/BIDEN 2012 : )

[Dancing-in-the-Streets]

Wow! Liar/Liar for President 2012 : /

Well okay Ryan, where ARE the jobs then?
You top 1% have had your tax breaks for over 10 years not - where are they jobs you promissed?

OBAMA/BIDEN - a balanced ticket! : )

[Dancing-in-the-Streets]

Oh but they never said the President would hand out jobs! They said tax breaks for the rich would create jobs! Well....here it is 10 years later, and we're still waiting!

How long will some of you wait for them to scrape the crumbs off the table??? : /

[RollotheNorman]

Not only that but Ryan has been chairman of the finance committee for two year's now, and the RepubliCONs haven't done a thing to get jobs moving. Why should voters trust them to suddenly start creating jobs if they were to get in office? They should have been showing me, not just yapping about a problem.

[qyeteye]

Mr. Ryan,

In the 2010 election your congressional party said it was going to focus on jobs-jobs-jobs when voted in. Once you received the trust of voting citizens you helped to lead in hostage politics, war on women, 1st credit downgrade, and everything but jobs.

Fool me once - shame on me...
Fool me twice - No way.
Vote Republican? Just say No - Give back what was given.

[M_Aurelius]

I would wonder more about how an investment like that only earns 15k 1 year then it make between 100k to 1mil the next? That doesn't sound right at all.

[qyeteye]

Wouldn't be due to trading on insider information before Congress pass a law against it (reluctantly) as applied to themselves - would it?

[lesserof2evil]

What the deal with the rich folks forget about their multi-millions-dollar bank account? Is being rich cause you to have amnesia or just because you're a crook?

[gman16506]

Did I miss something? the article said his wife inherited money thru a trust fund..not Ryan. Do not know if his wife's assets have to be reported or not,,,,the timing of the distribution to the resulting trust could have added to the confusion on the reporting forms. The article just does not give enough detail to say Ryan did anything wrong or not.

[ParadoxisOK]

Another criminal hiding himself behind the cross and the flag. He is FAKE and is truly not an honest man in any way what so ever, that is what makes him the perfect fit for the vice pres spot next to Romney! They are the perfect snake oil salesmen and what is astounding is that they have so many willing buyers jumping to vote for their lies!