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Trump's tax data show $1 bln in losses over decade: NYT

Credit: Reuters Studio
Published on May 8, 2019 - Duration: 01:51s

Trump's tax data show $1 bln in losses over decade: NYT

U.S. President Donald Trump's businesses lost a total of more than $1 billion from 1985 to 1994, according to the New York Times, which said it obtained printouts from Trump's official Internal Revenue Service tax transcripts.

Ryan Brooks reports.

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Trump's tax data show $1 bln in losses over decade: NYT

The New York Times reported Donald Trump's businesses lost more than a billion dollars over a decade beginning in 1985.

The newspaper said Tuesday (May 7) it had obtained printouts of Trump's official IRS tax transcripts and say they reveal that in 1990 and 1991, Trump appeared to lose double the amount of money of any other individual U.S. taxpayer.

The Times also said Trump lost so much money that he was able to avoid paying income taxes for eight of the ten years.

And the paper said over the entire decade, Trump's core businesses including casinos, hotels and apartment buildings lost $1.17 billion dollars.

The White House did not immediately respond to a Reuters request for comment.

However, the Times quoted a lawyer for the president, Charles Harder as saying the tax information was 'highly inaccurate.'

Trump touted his business prowess on the campaign trail and turned over the running of his real estate business to his sons after the 2016 election.

He also became the first major party nominee in 40 years to break with tradition by refusing to release his tax returns.

And since then he's repeatedly said he's under no obligation to do so.

(SOUNDBITE) (English) U.S. PRESIDENT DONALD TRUMP, SAYING: "I have no problem with it but while I'm under audit I would not give my taxes, there is no law whatsoever." They've also recently been the focus of a running partisan battle in Washington.

On Monday (May 6) Treasury Secretary Steven Mnuchin refused a request for the returns by the Democratic head of the House Ways and Means Comittee.

Democrats want Trump's tax data as part of their probe into Trump's possibly conflicts of interest: He continues to own extensive business interests, from golf courses to hotels, even while serving as president.

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