House committee votes to make Donald Trump’s personal and business tax records public

After years of speculation, details about Donald Trump’s personal wealth and business dealings might finally see the light of day. The House Ways and Means Committee voted to make six years of former President Donald Trump’s tax returns public on Tuesday. The panel voted along party lines to make the information about tax returns available in public domain most likely by Wednesday, January 6. It will be the day the house committee is also set to release its final report on the riot that occurred inside the premises of the U.S. Capitol. This also marks the beginning of final days of Democratic control of Congress before the Republicans take over the house in January.

Richard Neal, Ways and Means Committee Chairman, said Trump's returns were subject to scant oversight by the IRS, even though all presidents are supposed to be subject to automatic audits. “For all practical purposes, the research that was done as it relates to the mandatory audit program was non-existent. The tax forms were really never audited, and only my sending a letter at one point prompted sort of a rear view response,” Neal said in a news conference after the vote.



Neal also received praise from the house speaker Nancy Pelosi as he proposed a legislation to codify the mandatory audit policy into law on Tuesday. Pelosi said, "The Ways & Means Committee’s report makes clear the legislative steps that must now be taken to guard the public trust, and we will move swiftly to advance Chairman Richard Neal’s legislation requiring the Internal Revenue Service to conduct an annual audit of the president’s finances.”

As the committee moves forward to release Trump's record, the move could possibly spark threats of retaliation from Republicans, who have already vowed to launch probing investigations into President Joe Biden and his family. In defense of the vote, Neal said, "This was not about being punitive, it was not about malice, and there were no leaks from the committee." He added, "We adhered carefully to the law."

FAQs:

1. What is Donald Trump's current net worth?
   According to Forbes most recent tally in 2022, Donald Trump’s net worth is 3.2 billion.
2. Has Donald Trump officially announced his bid for 2024 Presidential elections?
   Yes, the former President of the United States officially announced his bid for 2024 presidential elections on November 16, 2022.