The mystery of President Trump’s tax returns could finally come to an end if Democrats win control of at least one chamber of Congress following the midterm elections in November.
Democratic lawmakers in the House are planning to use an obscure, almost 100-year-old tax statute — that permits the chairmen of Congress’ tax committees to look at anyone’s returns — to get to the bottom of Trump’s finances and possibly make public the information that the president has kept guarded since the 2016 election.
“Probably the approach would be to get all of it, review it and, depending on what that shows, release all or part of it,” Rep. Lloyd Doggett, D-Texas, told Politico.
The 1924 law states that the Treasury Department “shall” turn over “any return or return information” requested by the chairs of the tax committees or the head of Congress’ nonpartisan Joint Committee on Taxation. The law was implemented amid widespread concerns over corruption and conflicts of interest by then-Treasury Secretary Andrew Mellon’s business interests.
During Trump’s campaign for the Oval Office, the then-candidate faced a swath of criticism for not releasing copies of his tax returns. The former businessman refrained from making his filings public, saying they were under audit by the Internal Revenue Service (IRS), and said he’d release them once the review was complete.