Trump Tax Data Spanning Ten Years Revealed
By Breitbart. The New York Times has published the personal tax data of President Donald Trump spanning a decade’s worth of time from long before he was a candidate for president, saying the documents show that Trump lost more than a billion dollars in the timeframe of 1985 to 1994.
While not actual tax returns, the Times says the data includes never-before-public information from the tax returns–obtained from tax transcripts that glean data from the 1040 forms Trump filed with the IRS.
Times reporters Russ Buettner and Susanne Craig wrote in the piece published Tuesday evening:
By the time his master-of-the-universe memoir ‘Trump: The Art of the Deal’ hit bookstores in 1987, Donald J. Trump was already in deep financial distress, losing tens of millions of dollars on troubled business deals, according to previously unrevealed figures from his federal income tax returns. Mr. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome. He has attributed his first run of reversals and bankruptcies to the recession that took hold in 1990. But 10 years of tax information obtained by The New York Times paints a different, and far bleaker, picture of his deal-making abilities and financial condition. The data — printouts from Mr. Trump’s official Internal Revenue Service tax transcripts, with the figures from his federal tax form, the 1040, for the years 1985 to 1994 — represents the fullest and most detailed look to date at the president’s taxes, information he has kept from public view. Though the information does not cover the tax years at the center of an escalating battle between the Trump administration and Congress, it traces the most tumultuous chapter in a long business career — an era of fevered acquisition and spectacular collapse.
The lengthy Times piece goes on to explain how these documents show Trump, over that decade, reported losses totaling $1.17 billion in just ten years. (Read more from “Trump Tax Data Spanning Ten Years Published” HERE)
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Liberal Group Urges Passage of New York Bill Allowing Congress Access to Trump’s State Tax Returns
By The Hill. The progressive group Stand Up America on Tuesday announced that it has launched an effort to encourage New York state lawmakers to pass legislation that would allow Congress to request President Trump’s state tax returns.
Stand Up America said that it has started efforts to have constituents call state senators to urge them to back the bill when it comes up for a vote. The group also said that its campaign will include digital ads, lobbying efforts and various grass-roots actions.
Other organizations are also partnering with Stand Up America on the effort, including Americans for Tax Fairness and Public Citizen.
Under the bill, known as the TRUST Act, the chairmen of Congress’s tax-writing committees would be able to request New York state tax returns from the state’s department of taxation and finance, so long as the request has a legitimate legislative purpose and lawmakers have requested related federal tax returns from the U.S. Treasury Department.
The bill passed a New York state Senate committee last week and is listed on the state Senate’s floor calendar. (Read more from “Liberal Group Urges Passage of New York Bill Allowing Congress Access to Trump’s State Tax Returns” HERE)
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