Democrats defend request for six years of Trump taxes, as both sides eye a likely court fight.
By Erica Werner , Erica Werner Congressional reporter focusing on economic policy Email Bio Follow Damian Paletta and Damian Paletta Reporter covering economic policy Email Bio Follow Jeff Stein Jeff Stein Reporter for Wonkblog Email Bio Follow April 4 at 5:44 PM The White House could attempt to block the release of President Trump’s tax returns to Democrats, senior officials signaled on Thursday, an unprecedented step that might lead to a constitutional challenge and catapult the issue into...
“While his taxes continue to be under audit, he doesn’t anticipate that changing at any point anytime soon, and therefore doesn’t have any intention to release those returns,” Sanders said on Fox News. The 1924 law that gives Neal the authority to compel the records amended the Internal Revenue Code. It says the treasury secretary “shall furnish . . . any return or return information specified” in a request from the head of the House or Senate tax-writing committees. The law does not appear to give the treasury secretary any legal mechanism to deny the request.
“What he didn’t want is to have an entire group of think tanks that are tax experts run through his tax return and start ripping it to pieces, and then he’ll end up in an audit, and he’ll ultimately have taxable consequences, penalties and so on,” Cohen said, adding, “I presume that he is not under audit.”
Democrats believe that Trump’s tax returns could shed light on any number of issues, including whether the president improperly inflated his assets, had questionable dealings with foreign countries, or benefited personally from the 2017 tax law. Grassley delivered a fiery speech on the Senate floor Thursday slamming House Democrats for seeking Trump’s taxes.
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