The House Ways and Means Committee released a partially redacted version of former President Trump’s tax returns Friday, completing a longtime objective of Democrats to make Trump’s finances public after the former president unsuccessfully tried to stop them in court.
The financial documents cover six years of Trump’s individual returns filed jointly with his wife, Melania, including his time in the White House. The document dump also includes tax forms for several of Trump’s business entities that were investigated by Ways and Means Democrats, a report from the Democratic majority, and a response by Republicans on the committee.
The tax forms provide insights into the state of Trump’s finances as he mounts a third bid for president in 2024.
The committee voted 24 to 16 along party lines to release Trump’s tax returns late Tuesday evening.
Ways and Means Committee Democrats released a report on Trump’s taxes last week that showed the former president paid little to no federal income taxes on his multimillion-dollar income from 2015 to 2022, as he claimed millions in business losses.
The analysis within the reports conclude that any lack of proper taxation on Trump’s earnings appears to have been ultimately a failing of the IRS and not the result of pressure or obfuscation from the White House.
Trump’s family of enterprises used reported losses, foreign tax credits, deductions, charitable donations and many other financial maneuvers to great effect in offsetting taxation on profits.
These business tactics frequently shrank his otherwise sizable tax requirements down to miniscule amounts — sometimes under $1,000, according to the committee.
This is a developing story and will be updated.
Fox News’ Timothy Nerozzi contributed to this report.
The House Ways and Means Committee released a partially redacted version of former President Trump’s tax returns Friday, completing a longtime objective of Democrats to make Trump’s finances public after the former president unsuccessfully tried to stop them in court.
The financial documents cover six years of Trump’s individual returns filed jointly with his wife, Melania, including his time in the White House. The document dump also includes tax forms for several of Trump’s business entities that were investigated by Ways and Means Democrats, a report from the Democratic majority, and a response by Republicans on the committee.
The tax forms provide insights into the state of Trump’s finances as he mounts a third bid for president in 2024.
The committee voted 24 to 16 along party lines to release Trump’s tax returns late Tuesday evening.
Ways and Means Committee Democrats released a report on Trump’s taxes last week that showed the former president paid little to no federal income taxes on his multimillion-dollar income from 2015 to 2022, as he claimed millions in business losses.
The analysis within the reports conclude that any lack of proper taxation on Trump’s earnings appears to have been ultimately a failing of the IRS and not the result of pressure or obfuscation from the White House.
Trump’s family of enterprises used reported losses, foreign tax credits, deductions, charitable donations and many other financial maneuvers to great effect in offsetting taxation on profits.
These business tactics frequently shrank his otherwise sizable tax requirements down to miniscule amounts — sometimes under $1,000, according to the committee.
This is a developing story and will be updated.
Fox News’ Timothy Nerozzi contributed to this report.
