Mnuchin expected to ignore subpoena deadline for Trump's tax returns, setting up court fight
of the federal tax code, which states that the Treasury secretary "shall furnish" an individual's tax returns when a written request from the tax committee is made. Mnuchin says that the request "lacks a legitimate legislative purpose" and that it could therefore not "lawfully" be fulfilled.to Mnuchin and Rettig for the returns.
In a Senate Appropriations subcommittee hearing Wednesday, Mnuchin strongly suggested that he and the IRS chief will not cooperate with those subpoenas. Lawmakers can "guess which way we're leaning" on how he and Rettig will respond to the Democrats' requests,The Treasury Department did not immediately respond to CNBC's request for comment on whether or not the deadline will be met.
It would be better to turn to the courts to try and hash out the "difference in interpretation" between Democrats and the Trump administration, Mnuchin said in that hearing. "This is why there are three branches of government, so if there is a difference of opinion this will go to the third branch of government to be resolved."
Mnuchin and Republicans on the Ways and Means Committee have both claimed that Democratic lawmakers are attempting to "weaponize" the IRS in order to damage Trump, rather than use their powers to further a legislative interest. "It has become obvious that your supposed legislative purpose is just a pretext, and your request is merely a means to access and make public the tax returns of a single individual for purely political purposes," said Rep. Kevin Brady, R-Texas, the Ways and Means Committee's ranking member, in aTrump refused to make his tax returns publicly available as a presidential candidate, breaking with the precedent set by most other candidates in recent decades.
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