BREAKING NEWS: Treasury won’t meet deadline for releasing Trump’s tax returns
The Trump administration missed a Wednesday deadline set by Democrats to hand over the president’s tax returns, as the two sides edge closer to an epic legal battle that could rise all the way to the Supreme Court.released Wednesday evening, Treasury Secretary Steven Mnuchin said he needs more time to consider House Ways and Means Committee Chairman Richard Neal’s demand while also making clear the administration looks dimly on the request.
The administration is expected to formally deny the request eventually, leaving it up to the courts to decide the scope of Congress’s power to demand records from a sitting president. Rejection would ensure the matter will remain a prominent issue throughout much of Trump’s third year in office as 2020 Democratic presidential contenders hammer him over broken promises and make a show of releasing their own tax filings.
House Democrats, who are demanding six year’s worth of the president’s personal and some business returns, have made clear they intend to force the issue, though they have not spelled out their legal strategy. Neal is relying on an arcane law that allows the head of Congress’s tax committees to examine anyone’s confidential tax information. It says that the Treasury secretary "shall furnish such committee with any return or return information specified in such request."
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