Republican presidential nominee Donald Trump confirmed that he used a multimillion dollar loss to avoid paying personal federal income taxes. Rough Cut (no reporter narration).
ROUGH CUT (NO REPORTER NARRATION). STORY: Republican presidential nominee Donald Trump confirmed that he used a multimillion dollar loss to avoid paying personal federal income taxes at a presidential town hall at Washington University in St. Louis. "Of course I do," he said when he was asked about a New York Times report said Trump had claimed a $916 million loss on his 1995 tax returns, which experts said might have allowed him to avoid paying federal income taxes for 18 years. He later said he did it because it was a program that rival Hillary Clinton, who served as a senator from New York, "allowed," Trump said. Trump was dismissive of the Times' story in his Pueblo remarks, saying the media was "obsessed with an alleged tax filing from the 1990s." The Trump campaign has not said, however, that the Times story was inaccurate. Instead, his supporters, including former New York Mayor Rudy Giuliani and New Jersey Governor Chris Christie have contended that Trump's aggressive use of provisions under U.S. law to minimize his tax liability was evidence of his "genius" as a businessman and real estate investor. Trump has faced eroding support from his party over lewd remarks about women. He went into the second presidential debate needing to demonstrate he remains a credible candidate. At the first debate, on Sept. 26, Trump was repeatedly put on the defensive by Clinton. He never let her accusations go unanswered, and as a result he missed opportunities to use his speaking time to draw attention to Clinton's perceived weaknesses. A Reuters-Ipsos poll had Clinton leading by five points on Friday, before the video surfaced. Now, the question is whether Trump's quest for the presidency is all but over.