US House panel gets Trump's tax returns after long legal battle: Report
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Mr Donald Trump was the first president in four decades not to release his tax returns.
PHOTO: AFP
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WASHINGTON - A United States House of Representatives committee has obtained Mr Donald Trump’s tax returns, CNN reported on Wednesday.
It follows a years-long court fight with the Republican former president, who accused the Democrat-led panel of being politically motivated.
The Ways and Means Committee had been seeking Mr Trump’s tax returns
It said it needs the documents, which it obtained following a Supreme Court decision clearing the release, to establish whether the Internal Revenue Service is properly auditing presidential returns and whether new legislation is needed.
However, the committee will have little time to do its work, as Republicans are poised to take the House majority in January.
Mr Trump fought the committee tooth and nail to avoid releasing the documents.
He was the first president in four decades not to release his tax returns as he sought to keep secret the details of his wealth and the activities of his real estate company, The Trump Organisation. It had long been customary, though not required, for major party presidential candidates to release their tax returns.
Mr Trump served as president from 2017 to 2021. On Nov 15, he began his third consecutive run for the presidency.
Mr Trump reported heavy losses from his business enterprises over several years to offset hundreds of millions of dollars in income, according to news media reporting and trial testimony about his finances. That allowed him to pay very little in taxes.
A major question hanging over the committee’s work is what will happen to the returns when Republicans take control of the House from the Democrats. The committee first requested Mr Trump’s returns in 2019.
Democrats on the Senate Finance Committee, the counterpart to the Ways and Means Committee, were considering their options on any action relating to Mr Trump’s tax returns, according to an aide who spoke on condition of anonymity.
Democrats retained their Senate majority in November’s midterm elections. REUTERS
