The Democratic-controlled House Ways and Means Committee is expected to vote on whether to publicly release years of Donald Trump's tax returns.
As a presidential candidate in 2016, he broke decades of precedent by refusing to release his tax forms to the public. He bragged during a presidential debate that year that he was "smart" because he paid no federal taxes and later claimed he wouldn't personally benefit from the 2017 tax cuts he signed into law that favored people with extreme wealth, asking Americans to simply take him at his word.
The articles exposed deep inequities in the U.S. tax code as Trump, a reputed multi-billionaire, paid little in federal income taxes. IRS figures indicate that the average tax filer paid roughly $12,200 in 2017, about 16 times more than the former president paid. "Now, Donald Trump is the boss of the agency he considers an adversary," Neal said in 2020. "It is essential that the IRS's presidential audit program remain free of interference."
The DA's office issued the subpoena after Trump's former personal lawyer Michael Cohen told Congress that Trump had misled tax officials, insurers and business associates about the value of his assets. Those allegations are the subject of a fraud lawsuit that New York Attorney General Letitia James filed against Trump and his company in September.
The Trump Organization was convicted earlier this month on tax fraud charges for helping some executives dodge taxes on company-paid perks such as apartments and luxury cars.
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