01 January 2023 21:01
Former US President Trump.
[China News Agency]The U.S. House of Representatives Ways and Means Committee released former President Trump’s 2015-2020 tax returns at 30 local time.
Trump’s tax returns released that day include the personal tax returns of Trump and his wife, Melania Trump, as well as corporate tax returns. The tax form shows that Trump paid $641,900 in federal income tax in 2015; $750 in 2016 and 2017; about $1 million in 2018; about $133,400 in 2019; to pay taxes.
Trump released a statement the same day saying, “Democrats shouldn’t be releasing their tax returns and the Supreme Court shouldn’t approve it. It’s going to bring very bad things to a lot of people.”
According to the Associated Press, Trump’s tax returns show that Trump’s company has been losing money for many years. In 2020, the total loss of Trump Company will reach 58 million US dollars.
The “battle” between House Democrats and Trump over his tax returns has been going on for years. To obtain Trump’s tax returns, the House Ways and Means Committee asked the Treasury Department to provide them in 2019, but was denied by then Treasury Secretary Mnuchin. With Biden taking office as President of the United States, the committee will resubmit the application to the Treasury Department in 2021 and obtain approval from the Treasury Department. Trump, the outgoing president, then sued the House Ways and Means Committee and the Treasury Department.
On August 9 of this year, the US Court of Appeals for the Federal Circuit for the District of Columbia ruled that the House Ways and Means Committee has the right to obtain Trump tax records from the US Treasury Department. Trump’s legal team filed an appeal in the Federal Supreme Court on Oct. 31, asking that the tax form not be filed for now. On November 22, the Supreme Court denied Trump’s request to suspend filing of tax returns and allowed the House Ways and Means Committee to obtain Trump’s tax returns.
The House Ways and Means Committee obtained Trump’s tax returns from the Treasury Department on Nov. 30. The committee voted on Dec. 20 to release Trump’s tax returns.
It is customary for US presidential candidates to release their tax documents during the campaign. Trump is the only US president in more than 40 years who hasn’t released his tax returns. On November 15, Trump announced that he would run again for president of the United States.