A tax statute could force President Trump to release his tax returns if the Democrats win control of at least one chamber of Congress.
The mystery of President Trump’s tax returns could finally come to an end if Democrats win control of at least one chamber of Congress following the midterm elections in November.
Democratic lawmakers in the House are planning to use an obscure, almost 100-year-old tax statute — that permits the chairmen of Congress’ tax committees to look at anyone’s returns — to get to the bottom of Trump’s finances and possibly make public the information that the president has kept guarded since the 2016 election.
“Probably the approach would be to get all of it, review it and, depending on what that shows, release all or part of it,” Rep. Lloyd Doggett, D-Texas, told Politico.
The 1924 law states that the Treasury Department “shall” turn over “any return or return information” requested by the chairs of the tax committees or the head of Congress’ nonpartisan Joint Committee on Taxation. The law was implemented amid widespread concerns over corruption and conflicts of interest by then-Treasury Secretary Andrew Mellon’s business interests. – READ MORE
[divider][/divider]Democrats are vowing to get their hands on President Trump’s tax returns if they are able to win back the House majority in November.
“I’m definitely going to bring it up if we don’t have them by then — that’s a definite,” Rep. Bill Pascrell (D-N.J.), a senior member of the House Ways and Means Committee, told The Hill.
The Democrats contend existing law empowers the tax-writing committees to access a president’s tax history. If the House flips, they say they’ll use their gavels to move swiftly to do just that.
“I don’t think there’s any question about it,” said Rep. John Yarmuth (D-Ky.), the ranking member of the House Budget Committee.
Rep. Judy Chu (D-Calif.), another Ways and Means member, said that “of course” the Democrats will fight for the returns if they take the gavel. – READ MORE
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