Congress takes action – Trump’s tax documents are now being made public

Contrary to US practice, the real estate entrepreneur had not released his tax returns either as a presidential candidate or after taking office in the White House. Critics have long suspected that he has something to hide. The publication is now a sensitive defeat for the 76-year-old and could provide new insights into his finances.

Among other things, the Democrats wanted to investigate whether the real estate entrepreneur’s documents revealed a conflict of interest and whether he had used questionable methods to save taxes. Trump’s tax returns were reportedly submitted to the Treasury Committee in early December.

All tax documents requested in court would be published, Republican commissioner Lloyd Doggett told CNN after the vote. Publication may take a few more days, as sensitive data such as social security numbers must be blacked out. Here’s Trump’s tax records from 2015 to 2020.

No tax audit completed
An initial report from the commission said Trump had not been properly screened by the IRS. It turned out that in Trump’s four years in office, only one mandatory audit had been initiated and none had been completed. In addition, the commission notes, “Numerous reports have exposed the former president’s aggressive tax strategies and decades of tax avoidance strategies through the complexities of managing his personal and business finances.”

All Republicans on the Finance Committee voted against publication – all Democrats voted in favor. Republican committee member Kevin Brady slammed the Democrats ahead of Tuesday’s session. They would unleash a “dangerous new political weapon” with dire consequences, he said. Broadcaster CNN quoted a spokesman for Trump, who also sharply criticized the publication. “If this injustice can happen to President Trump, it can happen to all Americans for no reason,” he said, according to the broadcaster.

“Very Little Guilt”
Trump, who wants to run again in the 2024 election, had already opposed a possible publication on the Truth Social network, which he co-founded. The tax records would say nothing about his “great company” with “some of the largest assets in the world and very little debt.” “You can’t learn much from tax returns, but it’s illegal to publish them if they don’t belong to you.”

The Finance Committee in the House of Representatives has been trying for years to get hold of the tax documents. During the Trump administration, the Treasury Department initially stood in the way. It wasn’t until successor Joe Biden’s administration last year that the Treasury Department finally instructed the IRS to hand over the documents to the committee. Trump fought back in court, trying various instances until the only option left was to go to the US Supreme Court, where he finally failed in November.

Democrats used descending majority
This was a last-minute success for the committee: Since Republicans won the majority in the US midterm elections and will be in charge there from early January, the Democrat-led body had little time to do anything about it.

For Trump, this is the second blow this week. At its final public hearing on Monday, the Capitol Attack Committee of Inquiry advised the Justice Department to take criminal action against Trump and others involved. Trump is thus threatened with criminal consequences for his role in storming the US Capitol on January 6, 2021. Trump has other legal construction sites as well – including the dispute over classified documents found at his Mar-a-Lago estate in the US state of Florida.