World

Donald Trump’s tax returns to be released by US Congress


WASHINGTON: US lawmakers voted Tuesday to go public Donald Trump’s tax returnsending the former president’s years-long battle to keep his records private as his murky financial past continues to be controversial.
The Republican leader – who is running for the White House again after losing the 2020 election – broke with presidential tradition by refusing to release his records, sparking simmering speculation. floating about what they can contain.
The Democratic-led House Ways and Means Committee voted by partisan, 24-16, to release the billionaire’s six-year profile – one of the last acts before power is passed. given to Republicans in January.
Democratic congressman Lloyd Doggett told CNN that a summary report will be sent to the full House with analysis from the Committee. Congress of the United States of America Joint Commission on Taxes — along with raw profits.
“That could be delayed for a few days, just to have time to re-edit things like social security numbers… that sort of thing,” he said.
The vote comes after committee chairman Richard Neal won access to the documents, covering the period 2015-2020, at the end of a lengthy legal battle that led to the Supreme Court.
“This is not for punishment, it is not malice – and there is no leak from the committee,” he said after the vote.
Only a select group of lawmakers have access to tax returns, which are subject to privacy laws that make disclosing details a felony for anyone.
However, the law allows tax-responsible legislators to examine the tax returns of any American taxpayer.
Trump’s finances have always been of interest to the American public, in part because it took him a long time to keep them private, and also because of his lavish lifestyle before entering the White House as a president. real estate tycoon.
Profits can show how much he gives to charity, if he has concerns about foreign business or other conflicts of interest, and how his business is affected by his duties. his presidency and the pandemic.
The Trump family business was found guilty of tax fraud earlier this month, in a case that Manhattan District Attorney Alvin Bragg said was “about greed and fraud.”
Trump himself was not charged, but the company and a separate entity of the Trump family were found guilty of running a 13-year tax fraud and evasion scheme by falsifying business records.
The New York Times published an investigation into trumpethis finances in 2020 alleging that he paid little or no federal income taxes in the years before coming to power.
Democrats jumped on the charge, with House Speaker Nancy Pelosi saying it showed “Trump’s disregard for America’s working families.”
Trump immediately dismissed the allegations as “completely fake news.”
Ways and Means Committee Republicans warned ahead of Tuesday’s vote that releasing tax returns could set a precedent that erodes privacy for everyday Americans and creates conditions for unwarranted investigations of political opponents.
“Democrats will open the door to parties in Congress with virtually unlimited power to target political enemies by collecting and making their personal tax returns public, ” Kevin Brady, the committee’s top Republican leader, said in a statement.
Republicans have argued that Democrats’ stated purpose of examining the returns — to aid in a review of the Internal Revenue Service’s methods of auditing presidents — is not neutral. real.
They said in a statement: “Despite Democrats insisting it was not political, their haste to release refunds through a rushed, unsuccessful process indicates that Their motives are really politicized.”
Every president from Richard Nixon to Trump’s predecessor, Barack Obama, has released their full tax returns to the public — except for Gerald Ford, who released the summary.

news5h

News5h: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button