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House panel chairman subpoenas Trump's taxes

Credit: Reuters Studio
Published 2 weeks ago - Duration: 01:21s

House panel chairman subpoenas Trump's taxes

U.S. House Ways and Means Committee Chairman Richard Neal on Friday issued subpoenas for six years of President Donald Trump's individual and business tax returns.

Gavino Garay reports.

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House panel chairman subpoenas Trump's taxes

TEASER: House Democrats issue subpoenas for six years of Trump's taxes A top congressional Democrat on Friday issued subpoenas for six years of President Donald Trump's individual and business tax returns..

Escalating a fierce battle over access to Trump's financial records..

House Ways and Means Committee Chair Richard Neal making the move four days after Treasury Secretary Steven Mnuchin rejected Neal's repeated requests to see Trump's taxes.

Neal gave Mnuchin until next Friday to comply with the subpoena or face potential legal action... Neal has cited a longstanding anti-corruption law that says the Treasury Secretary "shall furnish" the return of any individual upon the panel chairman's request.

Mnuchin has argued Neal's request is not for quote "a legimite legislative purpose." Trump has long refused to disclose his taxes..

Saying he was unable to do so while under audit by the IRS.

But Trump's former lawyer, Michael Cohen - who reported to prison Monday for fraud and other crimes - told Congress he didn't believe the president was being audited and might have used the audit claim to avoid tax penalties.

Democrats are also fighting to see Trump's taxes at the state level..

The New York State Senate passed a bill on Wednesday that would require the release of his state tax returns if requested by financial committees.

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