Topline
The House Ways and Means Committee is expected to vote Tuesday whether to release former President Donald Trump’s federal tax returns, in what could be the latest blow to Trump, who has faced a string of controversies since announcing his third run for the presidency last month.
WASHINGTON, DC – DECEMBER 20: Committee chairman Rep. Richard Neal (D-MA) and ranking member Rep. … [+]
Key Facts
The committee, which is controlled by Democrats, met Tuesday at 3 p.m. ET before quickly moving to executive session, where they will discuss the next steps in its handling of the documents, what could be its last chance to publicly release the records before Republicans take majority control of the House, along with its committees, and could block the returns from being made public.
Committee leaders obtained six years’ worth of Trump’s tax returns last month when the Supreme Court ruled that lawmakers should have access to the records, putting an end to a three-year court battle in which Trump challenged the documents’ release.
Democrats have argued the tax returns could reveal possible conflicts of interest related to Trump’s personal business dealings and his decisions while president.
The committee also said it would use the records to measure the effectiveness of the Internal Revenue Service’s presidential audit program.
Republicans on the committee have argued that releasing the records would set a new precedent that threatens “the privacy of every American” and grants Congress “nearly unlimited power to target political enemies,” Ways and Means Republican Leader Rep. Kevin Brady (R-Tx.) said in a statement.
Key Background
During his 2016 run for president, Trump broke with historical precedent in refusing to release his tax returns to the public. The New York Times later obtained his tax returns and reported in 2020 that he paid only $750 in federal taxes in 2017 and 2018, and no taxes in 10 of the last 15 years because he reported losing more money than he made.
Tangent
The release of the records could mark a second, consequential stain on Trump’s legacy in a matter of 48 hours and one of several over the past month. On Monday, the January 6 House Committee recommended the Justice Department take up an investigation of four criminal charges it accused Trump of committing in the wake of the 2020 presidential election. Many prominent GOP members have blamed him for the party’s worse-than-expected midterm losses, and further criticized him for his meeting with white supremacist Nick Fuentes and comments that parts of the constitution should be disbanded because they did not aid his re-election in 2020.
Further Reading
Has Trump Run Out The Clock On His Tax Returns Yet Again? (Forbes)
House Committee Receives 6 Years Of Trump Tax Returns (Forbes)
Treasury Must Turn Over Trump’s Tax Records To Congress, Supreme Court Rules (Forbes)
Source: https://www.forbes.com/sites/saradorn/2022/12/20/trumps-tax-returns-could-finally-be-made-public/