Tuesday, February 7, 2023

Trump’s tax return released after a long battle

Democrats in Congress on Friday released six years of former President Donald Trump’s tax returns, capping a years-long effort to learn the finances of a business magnate who broke decades of political norms when he voluntarily released that tax return. Refused to issue the return. home.

The tax returns — which leave out some sensitive personal information such as bank account numbers and Social Security numbers — are for tax years 2015 through 2020.

Its publication follows a partisan vote last week on the House Ways and Means Committee to make the statements public.

The panel’s Democrats argued that transparency and the rule of law were at stake. Republicans countered that the post would set a dangerous precedent regarding the loss of privacy protections.

Trump declined to release his comments when he ran for president and waged a legal battle to keep them secret while in the White House, but the Supreme Court ruled last month that he must turn them over to the Ways and Means Committee. needed.

The disclosure — just days before Trump’s Republican supporters take back control of the House, until now held by Democrats — raises the prospect of further revelations about Trump’s finances, which have been shrouded in mystery since his days as a Manhattan real estate agent. steeped in intrigue. Estate Developer. Tax returns to the 1980s may take on additional meaning now that Trump has launched a campaign for a return to the White House in the 2024 election.

It is likely to present the clearest picture yet of his finances during his time in office.

Trump, known for building skyscrapers and hosting a reality TV show before winning the White House, provided some limited details about his holdings and income on mandatory disclosure forms. He always publicized his wealth by obtaining loans to banks and in annual financial statements provided to financial magazines to justify his place in the rankings of the world’s biggest billionaires.

Trump’s accounting firm has since denied those claims, and New York Attorney General Letitia James filed a lawsuit alleging that Trump and the Trump Organization inflated asset values ​​on returns as part of the fraud. extended which lasted for years. Trump and his company have denied any wrongdoing.

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Associated Press writer Paul Wiseman in Washington, D.C. contributed to this report

Nation World News Desk
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