The House Ways and Means Committee will release former President Donald Trump’s tax returns Friday morning, a source familiar confirmed to CNN.
The returns will be placed into the congressional record on Friday morning during a House pro forma session. That pro forma session will occur around 9 a.m. ET on Friday. There will also be a formal announcement Friday from the committee.
The highly anticipated release comes after the panel last week asserted that the IRS failed to properly audit the former president’s taxes while he was in office.
The committee released a report that detailed six years’ worth of the former president’s tax returns, including his claims of massive annual losses that significantly reduced his tax burden.
Chairman Richard Neal and fellow Democrats have said that the records they obtained showed that the presidential audit program failed to work as intended. Neal, a Massachusetts Democrat, charged that the complete required audit of Trump’s taxes “did not occur,” as his returns were only subjected to the mandatory audit once, in 2019, after Democrats inquired.
The committee also released a supplemental report from the Joint Committee on Taxation that included details on Trump’s tax returns from 2015 to 2020, ahead of the planned release of the returns themselves.
The release of Trump’s tax returns marks the conclusion of a nearly four-year legal battle House Democrats waged against the former president after they took control of the House in 2019.
The audit program was important to Democrats because it was the justification they used to obtain the returns in the first place – but the Democratic pursuit was also tied in part to long-held suspicions about Trump’s taxes after he bucked the norm and refused to release his returns as a candidate and while in office.
Since the panel decided that the IRS did not do its job, will Congress now go after them? If the panel is correct, Congress needs to decide how to restructure the tax agency in order to make it more functional. That should be a fun discussion, as Congress focuses mainly on the good of the wealthy and Corporate America rather than the poorer 90% of their constituents.
I could care less about Trump’s tax returns. They should go after Biden and His whole Family, who should be in jail. Biden took crooked advantage of His VP and got away with it. Biden has done many nefarious things, so where is the DOJ? Why aren’t they investigating the Obidens? Trump had this Country running like a fine toothed engine.
Democrats think Trump’s returns should be audited simply because he’s filthy rich… and because he’s running for president… against their evil…