Democratic members of the House Ways and Means Committee led by House Speaker Richard Neal (D-MA) speak during a press conference on Capitol Hill on Tuesday, December 20, 2022. in Washington, DC.
Kent Nishimura | Los Angeles Times | beautiful pictures
The House Ways and Means Committee released six years of the former President Donald Trumphis tax return on Friday, providing the most detailed account of his finances while in the White House.
The board voted last week to make tax returns with sensitive information public after a lengthy legal battle over making the documents public. Committee of Ways and Means obtained last month Trump’s federal income tax returns for the years 2015 to 2020, along with tax records for several of his business units. The panel searched the records from 2019, when Trump was president, and he tried to prevent them from being released in court.
Committee release a report the former president’s profit summary earlier this month. The summary prepared by the Joint Committee on Taxation shows that Trump declared negative income in 2015, 2016, 2017 and 2020. He paid a total of $1,500 in income taxes in 2016 and 2017.
The Democratic-led panel released the results just days before Republicans were set to take control of the House. The Ways and Means Committee said it wants Trump’s tax returns as part of an investigation into how the IRS audits the president’s tax returns. The agency is required to examine the incumbent president’s profits annually.
The vast majority of House GOP lawmakers have defended Trump, who has launched another bid for the Republican presidential nomination in 2024.
The former president broke with decades of precedent by refusing to release his tax returns as a candidate in the 2016 election.
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