Portions of former US President Trump’s tax returns will become publicly available. It was approved by a House committee. This relates to returns from 2015 to 2020.
The vote marks a temporary end to a long legal battle. Trump has been trying for years to block the release of his tax returns, which is typical for US presidents.
Last month to rule The Supreme Court ordered the Treasury Department to submit Trump’s tax returns to the House Committee. The Democratic-led committee wanted to know, among other things, whether there were conflicts of interest during Trump’s presidency and what his business empire looked like.
The committee has now decided that advertisements must also be available to the general public. It is still not clear when that will happen, possibly sometime in the coming days.
The committee was in a hurry to vote, because from January the House Republicans would have a majority and that would affect the committee’s mandate. Now all 24 Democratic committee members voted to release the returnees, and all Republican members opposed.
Trump called the release of his tax returns “unprecedented” last month. This, he said, sets “a terrible precedent for future presidents.”
Trump’s tax returns have been a hot topic in recent years. He was the first president in decades to refuse to voluntarily disclose his finances because he did not want to reveal details about his assets and business activities.
in 2020 The New York Times revealed that Trump paid very little income tax during part of his presidency and that in many other years he paid no tax at all. A year ago, a House committee had already begun trying to get access to Trump’s tax returns.
In addition to this case, there is also a civil case about possible tax fraud against the former president and some of his relatives. They would have overvalued their assets between 2011 and 2021 in order to get tax benefits.
Trump’s company is also under a magnifying glass. Earlier this month, a jury found the Trump Organization guilty of tax fraud by helping executives evade paying taxes. Trump himself has not been prosecuted in this criminal investigation.
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