Trump says he paid ‘millions of dollars’ in taxes

President Donald Trump responds to questions regarding his income tax payments during the first 2020 presidential debate.
1:58 | 09/30/20

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Transcript for Trump says he paid ‘millions of dollars’ in taxes
Mr. President, as you well know, there's a new report that in 2016, the year you were elected president and 2017, your first year as president that you paid $750 a year in federal income tax, each of those years. I know that you pay a lot of other taxes, but I'm asking you the specific question, is it true that you paid $750 in federal income taxes each of those two years? I paid millions of dollars in millions of dollars of income tax and let me just tell you, there was a story in one of the papers -- Show us your tax returns. I paid $38 million one year. I paid $27 million. Show us your tax returns. You'll see it as soon as it's finished. You'll see it. You know, if you wanted to, go to the board of elections. There's 118 page or so report that says everything I have, every bank I have, I'm totally underleveraged because the assets are extremely good and we have a very -- I built a Sir, I'm asking you a specific question -- I understand all that. Release your tax returns. Mr. President, I'm asking you a question. Will you tell us how much you paid in federal income taxes in 2016 and 2017? Millions of dollars. You paid millions of dollars? So, not $750. Mallmillions of dollars. When? Chris, let me just tell you something. It was the tax laws -- I don't want to pay tax. Before I came here, I was a private developer. I was a private business people. Business people go through the laws and that's what it is. He passed a tax bill that gave us all these privileges for depreciation and for tax we built a building, we get tax credits like the hotel on Pennsylvania avenue, which, by the way, was given to me by the Obama administration, if you can believe that.

This transcript has been automatically generated and may not be 100% accurate.

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