Donald Trump may be forced to release his tax returns to the public, after all. New York Democratic state senators have implemented a unique strategy to make the president furnish his returns for the past five years online.
State Senator Brad Hoylman supported legislation called Tax Returns Uniformly Made Public Act [TRUMP Act], according to CNN Money:
‘The tax experts I’ve spoken to think we’ll get a good snapshot of what’s on his federal form.’
This bill packed a powerful punch, because Trump is currently a legal resident of New York State. Prior to the presidential election, the New York Times reported on the leaked top pages of the new president’s 2005 New York state tax form.
The reason that Hoylman wanted the new president’s tax returns released to the public was that the House and Senate have been considering tax reform legislation to benefit the few richest individuals in the US. That group included Donald Trump. The Federal House TrumpCare [AHCA] bill passed Thursday was more about providing a huge tax break to the wealthiest people in the country than about healthcare.
For the past 40 years, presidents have traditionally released their tax returns. President Jimmy Carter not only released his returns, he sold his family peanut farm to avoid any conflicts of interest. Trump’s business interests tentacle around the world, making his returns vital.
During the campaign, the excuse Trump used to keep his returns private was that the IRS was auditing them, never mind that President Dick Nixon released his returns when they were under audit. Now, the sitting president has dropped all pretense about the audit and simply refused to release his tax returns.
Senator Hoylman sponsored another bill that would require people running for election to release their federal tax returns, but that would not impact Trump until 2020, should he run again.
A Washington Post op-ed by University of Chicago Law Professor Daniel Hemel influenced Hoylman to introduce his bills, he told CNN Money:
‘Trump would almost certainly bring a constitutional challenge to any law requiring him to disclose his [federal] tax returns as a condition for ballot access, and it is far from clear that these laws would hold up in court. But publishing Trump’s state tax returns is a
much more viable option — and would make his returns available to the public now, rather than three years from now.’
CNN Money reported:
‘The Republican control of the senate is nominal. I wouldn’t rule out this happening by any means. Public support is widespread.’
US Democrats tried to get the Congressional leaders to force Trump to release his returns, to no avail.
Check out this video about Hoylman’s TRUMP Act below:
Featured Image: Getty Images/Stephanie Keith.
H/T: CNN Money.