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Trump on releasing tax returns: 'They'll speak to my lawyers'

06 April, 2019, 03:35 | Author: Taylor George
  • House Democrats formally demand Trump's tax returns from IRS

Rep. Rob Woodall, R-Ga., said Democrats' request for President Donald Trump's tax returns is an attempt "to weaponize" the tax code.

The Times also notes that "Mr. Trump and his team have been warily anticipating the probing demands of House investigators since Democrats won control in November".

When asked by reporters on Wednesday whether he planned to release the returns, Trump again declined and said they remained under audit. He asked for the documents in seven days, setting an April 10 deadline.

In his latest warning to Mexico to tighten border security, Trump threatened earlier on Thursday to eventually slap tariffs on auto imports from Mexico unless it did more to stop drug trafficking.

Democrats were quick to respond that, under the law, the president doesn't have a choice.

"They'll speak to my lawyers and they'll speak to the attorney general", he repeated.

Neal told CNN that he believes his request will be fulfilled, though perhaps not without a fight.

President Donald Trump broke with four decades of tradition when he refused to release his income tax returns.

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Trump said Wednesday that he "would not be inclined" to provide his tax returns until he is no longer under audit.

Republicans oppose the effort, saying such a move would set a risky precedent by turning the confidential tax documents of a US citizen into a political weapon. "As you know, by law all Americans have a fundamental right to the privacy of the personal information found in their tax returns".

After that move from Nixon, though not legally required to do so, it became commonplace for subsequent presidential candidates and commanders-in-chief to release their tax returns to the public. It's unclear how long the court battle would take, but some Democrats are anxious they may not see the returns before the 2020 election.

Trump has also been accused, notably by his former attorney Michael Cohen, of both deflating and over estimating the value of his properties and assets in insurance claims and on loan applications - a practice on which tax returns could shed light. He has said he won't release them because he is being audited, even though IRS officials have said taxpayers under audit are free to release their returns.

They are among 81 people, agencies and entities the panel has sought documents from as part of its obstruction and corruption investigation into Trump and his associates.

In a statement, the committee said that under IRS guidelines, a president's tax returns are subject to "mandatory examination".

"If the department still refuses, then it should be up to a judge - not the president or his political appointee - to decide whether it is appropriate for the committee to review the complete record", Nadler said.

Treasury Secretary Steven Mnuchin said last month he would "follow the law" if Congress requested Trump's tax returns. The returns would have to remain private unless the Ways and Means Committee and House voted to release them, which could start a fresh round of wrangling with the White House.

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