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PoliticsDemocrats to ask for 10 years of presidential tax returns in new bill

22:20  02 january  2019
22:20  02 january  2019 Source:   cnn.com

How Nixon's tax trouble could influence quest for Trump's returns

How Nixon's tax trouble could influence quest for Trump's returns The mostly forgotten story of Nixon’s tax troubles is getting a new look from lawmakers and legal experts. That’s because Democrats want to tap a rarely used law to seize and release Trump’s tax returns when they take control of the House next year. “The president should have to tell the American people what, in God’s name, he is doing with his money,” said Rep. Bill Pascrell of New Jersey, a senior Democrat on the House tax-writing committee. “The law is on our side.

Democrats are making presidential tax returns a focal point in one of their first pieces of legislation, an effort to build the case to the American people that time is You are using an older browser version. Please use a supported version for the best MSN experience. Democrats to ask for 10 years of

The tax returns would then be posted on the Federal Election Commission's website for public viewing. Democrats take over the House tomorrow with full The law was written in a way that once a person becomes the nominee they have to reveal 10 years of taxes . He would have had to back out before

Democrats to ask for 10 years of presidential tax returns in new bill© Chip Somodevilla/Getty Images Massachusetts Democrat Rep. Richard Neal criticizes the Republican tax plan during at the US Capitol in November 2017 in Washington, DC. Neal will chair the House Ways and Means Committee in January. (Photo by Chip Somodevilla/Getty Images)

Democrats are making presidential tax returns a focal point in one of their first pieces of legislation, an effort to build the case to the American people that time is up on President Donald Trump keeping his own tax returns from the public, shutting what could be a window into his personal wealth.

According to two sources familiar with the discussions, Democrats will include a provision in their new bill that would require presidential nominees to disclose 10 years of tax returns shortly after they become the nominee. Vice presidents would also be required to disclose a decade of returns. The tax returns would then be posted on the Federal Election Commission's website for public viewing.

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Democrats are making presidential tax returns a focal point in one of their first pieces of legislation, an effort to build the case to According to two sources familiar with the discussions, Democrats will include a provision in their new bill that would require presidential nominees to disclose 10 years of

Democrats are making presidential tax returns a focal point in one of their first pieces of legislation, an According to two sources familiar with the discussions, Democrats will include a provision in their new bill that would require presidential nominees to disclose 10 years of tax returns shortly after

The 10-year requirement is new marker. At the end of last year, Democrats had disclosed H.R. 1 would require presidential candidates to release just three years of tax returns, but a source familiar with the process said that after reviewing precedent, the marker was moved to a decade of returns.

The provision would be included in H.R. 1, a far-reaching bill that makes sweeping ethics changes as well as lays out Democratic priorities on voting rights and health care. The legislation isn't expected to pass the Republican-controlled Senate or be signed by Trump, also a Republican. However, it will give committees an opportunity to set markers on Democratic priorities in the new Congress.

The House Ways and Means Committee had planned to hold a hearing on the tax provision in H.R. 1 at the end of January. However, it could slip into February depending on the outcome of a partial government shutdown that has consumed Washington and left House Democrats spending their early days in the majority negotiating to reopen the government.

Incoming Democratic tax chairman won't make quick grab for Trump's returns

Incoming Democratic tax chairman won't make quick grab for Trump's returns He may not pull the legal trigger until February at the earliest. “He wants to lay out a case about why presidents should be disclosing their tax returns before he formally forces him to do it,” said Dan Rubin, a Neal spokesperson. The Massachusetts Democrat hopes to focus public attention on the issue with the first bill House Democrats plan to take up. It includes provisions that would require Trump and future presidential and vice presidential contenders to release their returns. Trump is the first president in more than 40 years to refuse to release details of his tax filings.

Democrats are making presidential tax returns a focal point in one of their first pieces of legislation, an effort to build the case to According to two sources familiar with the discussions, Democrats will include a provision in their new bill that would require presidential nominees to disclose 10 years of

In addition to the tax returns provision, the bill would also require presidential John Sarbanes, D-Md., the chair of the House Democrats ' Democracy Reform Task Force who helped organize the package, told ABC News that it would be important for Democrats to pass heading into two years of

While Democrats take a legislative approach, they are fully aware that it isn't likely to be signed into law. The House Ways and Means Committee is also pursuing another route to obtain Trump's tax returns. Democrats believe under an obscure IRS rule, the incoming chairman of the House Ways and Means Committee, Rep. Richard Neal of Massachusetts, has the power to obtain the returns from the Treasury Department. Neal has said he plans to ask for them in the new Congress, but when exactly he'd make his move is still under discussion.

Trump has repeatedly refused to release his tax returns because he's under audit by the IRS. Being under IRS audit does not preclude someone from disclosing his or her tax returns.

Grassley requests a briefing on requesting Trump's tax returns.
Senate Finance Committee Chairman Chuck Grassley (R-Iowa) said he's planning to receive a briefing from Congress's nonpartisan tax scorekeepers on the process of requesting tax returns from the Treasury Department, as House Democrats are planning to use the process to try to obtain President Trump's returns. "Don't interpret this as looking into it, but I'm going to have a briefing by Joint Tax on what all this involves before I answer a ny questions," Grassley said in a briefing with reporters Wednesday, referencing the Joint Committee on Taxation.

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