Romney Will Release His Tax Returns Tuesday, Calls it a 'Mistake' to Wait

Mitt Romney said Sunday he will release his tax returns for 2010 on Tuesday, along with an estimate for his 2011 returns.

The GOP candidate has faced mounting pressure to release the information, particularly from rival Newt Gingrich, who beat him out in Saturday's South Carolina primary. Gingrich released his own tax records last week.

"We made a mistake holding off as long as we did," Romney told host Chris Wallace on "Fox News Sunday."

He defended his previously stated decision to hold off on releasing them until April, but said the issue had become a distraction on the campaign trail.

“We’ll be putting our returns on the Internet. People can look through them,” he said.

Romney said people will see he pays a "substantial" amount in taxes.

"We pay full, fair taxes," he said. "And you'll see it's a pretty substantial amount."

Reacting to the news on NBC's "Meet the Press," Gingrich said he thinks it's "a very good thing he's doing it."

"I commend him for it," Gingrich said. "As far as I'm concerned that particular issue is now set to side."