US House committee requests Trump's tax returns from IRS

US House committee requests Trump's tax returns from IRS

US House committee requests Trump's tax returns from IRS

Liberals have speculated wildly about their contents. The White House called the report misleading.

Asked whether the IRS commissioner should comply with the law and allow Ways and Means chairman Richard Neal to review the president's tax returns, Scalise said "ultimately that's going to be something the IRS commissioner is going to have to decide".

Wednesday's move is likely to launch a multi-year legal battle between Democrats in the House of Representatives and the White House.

Trump defied decades of precedent as a presidential candidate by refusing to release the tax documents and has continued to keep them under wraps as president, saying his returns were "under audit" by the IRS.

Trump shrugged off the Democratic request for his taxes on Wednesday evening, using similar phraseology as when he was asked during the campaign about his taxes. Grassley added that he does not think he will be making a similar request for Trump's returns - although Grassley has said previously that if House Democrats get Trump's tax returns, he will want his committee to have them, too. He said he wanted to take the time to prepare a complex tax case that is "thoughtful and judicious" and will stand up to a legal challenge.

In his latest backtrack in recent days, Trump told reporters Thursday he would try the "less drastic measure" before resorting to his standing border-closure threat.

Kildee said on CNN's "New Day" that Trump has promised to provide his tax returns, but now he is "completely oblique when it comes to his personal interests".

What specific crime took place that might be resolved by viewing Donald Trump's tax returns?

Trump has also been accused, notably by his former attorney Michael Cohen, of both deflating and over estimating the value of his properties and assets in insurance claims and on loan applications - a practice on which tax returns could shed light. Millions of viewers tuned in to find out what was in those two pages, breaking her show's all-time ratings record.

This is the first time Neal's committee has formally requested the returns after wrestling with the decision since Democrats won the House.

The information could rekindle the inquiry into the president's ties to Russian Federation, despite Barr saying Mueller found there was not enough evidence to prosecute a criminal conspiracy between the Trump campaign and Russian Federation.

But in February 2016, Trump appeared to become skittish about releasing his tax returns, arguing he could not disclose his returns, because he was now being audited by the IRS - even though an audit does not prevent a taxpayer from releasing his or her own tax documents. Neal insinuated in his letter to Rettig that excuse was a key reason the committee needs to see the returns.

Trump said he would "probably start off with the tariffs - that will be a very powerful incentive".

"Now, we're under audit despite what people said". "Congress has an oversight responsibility to see that that is happening, if it has happened and how it has happened, and that's the policy aspect of this". It's unclear how long the court battle would take, but some Democrats are anxious they may not see the returns before the 2020 election. He went on to say the committee will have no issue fulfilling the House's request for information.

Neal said leaking someone's tax documents to the public would violate federal law.

Financial disclosure has become an issue in the Democratic primary, with several Democrats already releasing their tax returns, including Senator Elizabeth Warren of MA. But if they do, the Justice Department might have quite a few things to say about that.

House Democrats haven't stopped at Trump's business filings. "We will examine the request and we will follow the law. and we will protect the president as we would protect any taxpayer" regarding their right to privacy, Mnuchin said.

And in their sweeping ethics reform legislation H.R. 1, Democrats included a provision that would require presidential nominees and sitting President's to disclose 10 years of business returns. None of those measures have become law.

The confrontation, will in its broadest sense, establish the extent to which Congress has the power to examine the executive and enforce a long-observed norm - that party nominees and Presidents release their returns to the public.

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