Democrats vote to release six years of Trump’s tax returns

Source: The Hill | December 20, 2022 | Tobias Burns

Democrats on the main tax-writing committee in the House voted during a closed-door meeting on Tuesday to make six years of former President Trump’s tax returns public — the culmination of years of Democratic efforts to obtain Trump’s financial records and a move that Republicans view as a provocation as they assume control of the House.

The returns, encompassing years 2015 to 2020, could be released in as soon as hours after the announcement, as part of two reports from the Ways and Means Committee to the broader Congress about the presidential audit system of the IRS.

The committee voted along party lines, 24-16, to make the returns public, with Democrats voting in favor and Republicans voting against.

Republicans blasted the decision to release the returns, warning that the move will usher in a new era of disclosing personal financial documents as a “political weapon.”

……..

Tax experts have expressed doubts about whether the documents obtained by the committee are enough to back up years of investigative reporting that also gained access to Trump’s financial records and painted a dismal picture of Trump as a businessman.

“It could be a case of too little too late,” Steve Rosenthal, an analyst with the Urban-Brookings Tax Policy Center, said in an interview. “I expect very little, without a fuller probe.”

In 2020, The New York Times reported that Trump paid “no income taxes at all in 10 of the previous 15 years – largely because he reported losing much more money than he made.” Trump reported a $916 million loss on his 1995 tax return, theoretically allowing him to avoid income tax for nearly 20 years, the paper reported in 2016.

……..

Viewing 3 posts - 1 through 3 (of 3 total)
Viewing 3 posts - 1 through 3 (of 3 total)

You must be logged in to reply to this topic.