“#Supreme Court to rule on release of President Trump’s tax returns”
July 9, 2020 | 9:11am | Updated July 9, 2020 | 9:42am
The court announced Wednesday that it would issue the remaining decisions from its 2019-2020 term and comes as Trump’s two court appointees — Brett Kavanaugh and Neil Gorsuch — are seated on the bench.
House panels are seeking records from Deutsche Bank, CapitalOne and the accounting firm Mazars USA as part of their oversight into whether Trump has financial conflicts of interest and probes into his businesses.
Deutsche Bank was one of the few banks that lent money to Trump after his bankruptcies in the 1990s.
Documents are also sought for the Trump Organization and the president’s children.
New York DA Cy Vance wants eight years of the president’s tax returns released as part of his investigation into whether Trump made hush-money payments in the days before the 2016 election to two women — including Stormy Daniels — who alleged they had affairs with him.
The payments could violate campaign financing laws.
Trump, who has refused to release his tax returns, has denied their allegations.
The House’s interest was sparked by testimony from Michael Cohen, the president’s former personal lawyer, who told Congress in 2019 that Trump inflated his wealth to get loans and save on paying taxes.
Cohen is serving time for lying to Congress in the Russia investigation.
The Trump administration has argued that efforts to obtain his taxes and financial records are “harassment” by political partisans and maintained that the president cannot be investigated while in office.
Lower courts in Washington, DC, and New York have rejected that argument, saying the subpoenas were sent to third parties and seek information about Trump’s dealings as a private citizen.
Trump’s legal team took the matter to the country’s highest court.
The case has huge ramifications on the separation of the executive and legislative branches and the ability of Congress to fulfill its oversight duties.
The Supreme Court ruled unanimously against President Richard Nixon in 1974 and President Bill Clinton in 1997 when they tried to block the release of documents and testimony.
With Post wires
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