Some Democrats in Congress say Neal is being smart by declining to request Trump’s New York state tax returns, claiming that taking this cautious approach will protect the legal process by which Neal is attempting to obtain Trump’s Federal tax returns. I’m not in that camp. I’m with Maxine Waters and I say, “Damn the torpedoes, full speed ahead!”
House Democrats clamoring for Donald Trump’s tax information have eagerly awaited a newly passed New York law allowing limited access to the president’s state returns.
They’re about to be sorely disappointed.
House Ways and Means Chairman Richard Neal would be the only Democrat allowed by the new law to ask for the documents, but so far he has said he won’t do it.
Neal has said he fears that getting the state returns would bolster Trump administration arguments that Congress is on a political fishing expedition – and not, as Neal has claimed, overseeing the Internal Revenue Service’s annual audits of the president.
But Neal’s patience may wear thin if a lengthy legal battle with the Trump administration looms while the 2020 presidential campaign heats up and Democratic voters want to see the House hold Trump accountable. …
Some of Neal’s colleagues have little interest in legal nuance and say the state tax returns are better than none at all. They’re pointing to the measure passed recently by the New York State Legislature, which Governor Andrew Cuomo is widely expected to sign.
“Whatever it takes to get it – I’m for it,” said House Financial Services Committee Chairwoman Maxine Waters, a California Democrat. “I believe that the president of the United States should follow the tradition of other presidents and reveal his tax returns.”
Neal has asked Treasury Secretary Steven Mnuchin three times for six years of Trump’s federal personal and business returns, citing a 1924 law that allows the chairmen of the congressional tax committees to ask and requires the Treasury secretary to provide them. When Mnuchin refused the request three times, Neal followed with a subpoena but that, too, was rejected. The battle is expected to end up in court.
“Yes, absolutely, we need to ask” for the New York returns, said Representative Pramila Jayapal of Washington State, who co-chairs the House Progressive Caucus. “We need to know. There is an emoluments clause and a Constitution for a reason.” …
BTW, this is a Bloomberg report that they have made available without a paywall on their sister publication, “Accounting Today.” Here’s the Bloomberg link for subscribers.