Congress Subpoenas Trump’s Accounting Firm and Financial Records – Again

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Dawn Allcot
·2 min read
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Olivier Douliery/POOL/EPA-EFE/Shutterstock / Olivier Douliery/POOL/EPA-EFE/Shutterstock
Olivier Douliery/POOL/EPA-EFE/Shutterstock / Olivier Douliery/POOL/EPA-EFE/Shutterstock

The House Oversight Committee reissued its subpoena for the release of former president Donald Trump’s financial records from his accounting firm, Mazars USA. In February, Manhattan District Attorney Cyrus Vance Jr. obtained the ex-president’s tax returns as part of a grand jury investigation, according to CNBC.

See: NY District Attorney Receives Trump’s Tax Records – and There Are ‘Millions of Pages’
Find: Trump Organization Under Criminal Investigation in NY – Will Donald Trump’s Accountants Flip?

Representative Carolyn Maloney said in a memo sent last month that viewing Trump’s financial records can help Congress craft legislative reforms, CNBC reports. “The Committee’s need for this information — in order to verify key facts and tailor legislative reforms to be as effective and efficient as possible — remains just as compelling now as it was when the Committee first issued its subpoena,” Maloney said in the memo. “The Committee’s legislative efforts remain just as critical to the American people as they were before President Trump vacated the White House on January 20, 2021,” the memo continued.

The committee first subpoenaed Trump’s accounting firm in April 2019. The Oversight Committee is seeking eight years’ worth of records to investigate potential conflicts of interest and self-dealing, reports say. Trump fought the requests in the Supreme Court but lost the appeal, says CNBC.

See: Trump Faces Trouble with the Crown Jewels of His Real Estate Empire
Find: Ivanka Trump and Jared Kushner’s Final Financial Disclosures Show Where They Made Their Money

Meanwhile, the House Ways and Means Committee has requested for President Biden to obtain Trump’s tax records from the IRS. Committee Chair Richard Neal had requested Trump’s business and personal tax returns in 2019 but was denied by then-Treasury Secretary Steven Mnuchin. The Ways and Means Committee proceeded to file a lawsuit against the U.S. Treasury and the IRS, a case that is still ongoing and in which Trump is participating in his personal capacity, The Hill reports.

Tax experts and legal professionals told The Hill that Biden may tread carefully in the matter to avoid looking politicized.

Additionally, the House is expected to vote this week on a voting rights and ethics bill. As part of the legislation, presidents, vice presidents and major-party nominees for these offices would be required to disclose their past 10 years’ worth of tax returns to the Federal Election Commission, which would make them available to the public, The Hill states.

Every president in recent decades prior to Trump’s appointment has willingly released their tax returns to the public.

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This article originally appeared on GOBankingRates.com: Congress Subpoenas Trump’s Accounting Firm and Financial Records – Again