House passes bill to require presidents to disclose their tax returns

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The House on Friday passed legislation that would require presidents to disclose their tax returns, as Democrats have made obtaining President Trump’s tax returns one of their top priorities.

The tax return disclosure requirement was included in House Democrats’ wide-ranging election reform bill, known as H.R. 1, which passed on a party-line vote of 234-193. H.R. 1 is not expected to receive a vote in the Republican-controlled Senate.

Under the legislation, presidents, vice presidents and major-party nominees for those positions would be required to disclose 10 years of tax returns to the Federal Election Commission (FEC). That agency would then make the returns publicly available.

If a candidate or office-holder fails to disclose their returns, the FEC chairman would send a request to the Treasury secretary to obtain copies of the documents.

An amendment was added to the bill this week so that under the legislation, office-holders and candidates would be required to disclose both their personal and business tax returns. – READ MORE

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