The Democrats in the Congress published on Friday tax returns of the former president donald trump for six years, culminating a year-long effort to learn the finances of a business magnate who broke decades of political norms when he refused to voluntarily release that information while aspiring to reach the White House.
Income tax returns—which omit certain sensitive personal information, such as bank account numbers and Social Security— correspond to fiscal years from 2015 to 2020.
His post follows a partisan vote last week in the Ways and Resources Commission of the House of Representatives to make the statements public.
Democrats on the panel 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 refused to release his statements 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 release them to the Ways and Resources Commission.
The disclosure — just days before Trump’s Republican cronies retake control of the House, hitherto held by Democrats — raises the potential for new revelations about Trump’s finances, which have been shrouded in mystery and intrigue since his days as an up-and-coming Manhattan real estate developer. in the 1980s. The tax returns could take on added meaning now that Trump has launched a campaign to return to the White House in the 2024 election.
They are likely to offer 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, gave some limited details about his holdings and income on mandatory disclosure forms. He always promoted his wealth in the annual financial statements he provided to banks to obtain loans and to financial magazines to justify his place in the rankings of the world’s greatest billionaires.
Trump’s accounting firm has since denied those claims, and New York Attorney General Letitia James has filed a lawsuit alleging that Trump and the Trump Organization inflated the values of the assets on the returns as part of a fraud that lasted for years. Trump and his company have denied any wrongdoing.
(With information from AP)
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