Steven Mnuchin, US Secretary of the Treasury under President Trump, recently stated in a letter to Massachusetts Democrat Representative Richard Neal that he will not comply with a subpoena from the Democrat House of Representatives.
Representative Richard Neal, the chairman of the House Ways and Means Committee, was one of those on the left who was leading the charge, and among those calling for the release of President Trump’s tax returns.
Mnuchin stated in his letter that the subpoena request “lacks a legitimate legislative purpose,” also saying that his department won’t by any means “disclose the requested returns and information.”
Mnuchin is basically saying that the Democrats are playing games.
Just under the 5 p.m. deadline, Mnuchin tells Neal he won't comply with the subpoena for Trump's tax returns 👇 pic.twitter.com/28w4VxskPH
— Bloomberg Tax (@tax) May 17, 2019
According to Fox News:
Mnuchin said he consulted with the Department of Justice in making the decision. He had been given a Friday deadline by Neal to comply.
Neal issued subpoenas last week to Mnuchin and IRS Commissioner Charles Rettig for the tax returns.
“While I do not take this step lightly, I believe this action gives us the best opportunity to succeed and obtain the requested material,” Neal said in a statement at the time. “I sincerely hope that the Treasury Department will furnish the requested material in the next week so the committee can quickly begin its work.”
The topic has been a contentious one for the president since his time on the campaign trail in 2015, and throughout his administration, as he has refused to release his financial information. Trump repeatedly has claimed that his tax returns are complicated, and he has maintained that he will not release them while they are under audit by the IRS.
Last week, The New York Times obtained Trump’s federal income tax returns between 1985 and 1994. The documents revealed that Trump claimed to have lost $1.17 billion from his real estate businesses during that decade. The Times added that it had compared Trump’s tax information with other high-income earners and found that Trump “appears to have lost more money than nearly any other individual American taxpayer. The newspaper also reported that the losses were so substantial, that in the eight of the 10 years in question, Trump was able to avoid paying income tax.
Many others rushed to share the news on social media:
Mnuchin rejects Democrats’ subpoena for President Trump’s tax returns https://t.co/nyx2rjJEd4
— The Washington Post (@washingtonpost) May 17, 2019
We’re just going to have to wait and see where this goes. Stay tuned!