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US House of Representatives moves to expand oversight after Trump tax revelations | Donald Trump news


The bill requiring US tax enforcement to examine the tax records of presidents faces an uphill battle to become law.

The Democratic-led House of Representatives voted to require the Internal Revenue Service to examine presidents’ tax records after lawmakers concluded the agency failed to properly examine Donald’s tax returns. Trump when he was in the White House.

The bill, passed by a 222-201 partisan majority on Thursday, faces a high probability of being passed by the Senate and becoming law in the final days of Democratic control. control both houses of Congress. Trump’s Republicans are due control of the House in January.

However, it gives Democrats another chance to talk about Trump’s tax returns, which he has struggled for years to keep private even though other presidential candidates have voluntarily disclosed them for decades.

Tax returns released on Tuesday by a home board after a lengthy legal year the fightshows that he has paid no income tax in 2020, his final year in office, despite his multi-million dollar earnings from his vast business empire.

The House Ways and Means Committee also said the IRS failed to properly check his returns while he was in office.

by Trump Tax records show that his income and tax liability fluctuated significantly from 2015 to 2020 during his first and subsequent presidential run. They show that Trump and his wife, Melania, minimized their tax obligations through large deductions and losses, and paid little or no income tax during some of those years.

Although the IRS, the tax enforcement agency, is supposed to audit presidents’ tax returns annually, it didn’t do so for Trump until Democrats urged action. in 2019. The law will make that IRS audit a legal requirement.

The panel found that the IRS appointed only one agent to conduct Trump’s audits most of the time and failed to examine many of the complex deductions Trump claimed while in office.

The IRS declined to comment.

The Act passed by the House of Representatives would require IRS examine the president’s tax returns each year and report on the status of those audits.

Ways and Means Committee Chairman Richard Neal, a Democrat, said the law was intended to increase oversight of the president, not Trump. “This is not about a president; this is about the coming presidency,” he said in the House of Representatives.

Republicans say the legislation will set a dangerous precedent by making it easier for lawmakers to disclose citizens’ personal tax information.

“This will provide a dangerous new political weapon that invites political retribution,” said Representative Kevin Brady, the committee’s top Republican.

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