House Democrats will likely get Trump's tax information. Did Trump ally Rep. Devin Nunes ease their path?
One way or another, Congress will almost certainly obtain President Trump's financial records, "and Republican efforts to investigate the Christopher Steele dossier could be one reason why," writes CNN's Katelyn Polantz. Specifically, Democrats could find an unwitting helper in Rep. Devin Nunes (R-Calif.), a Trump ally who successfully subpoenaed the bank records of Fusion GPS when he was chairman of the House Intelligence Committee.
The House Oversight, Intelligence, and Financial Services committees have subpoenaed Trump's business and personal financial records from his accounting firm, Mazars USA, and lenders Deutsche Bank and Capital One. Like Fusion GPS, Trump has sued his banks and accountants to prevent them from releasing his records. Fusion GPS had to disclose who financed the Steele dossier after losing its fight in federal court, using some of the same arguments Trump's lawyers are testing. U.S. District Judge Amit Mehta has fast-tracked the accounting firm lawsuit, scheduling the first hearing for Tuesday.
"The difficulty that Trump faces is the same one that we faced," Bill Taylor, Fusion GPS's lawyer in the case, tells CNN. "There's a heavy presumption in favor of the validity of a congressional subpoena."
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The House Ways and Means Committee has also legally requested Trump's tax returns from the IRS, though Treasury Secretary Steven Mnuchin is fighting that, too. The New York Senate, now controlled by Democrats, approved legislation last week that specifically permits three congressional committees to view the state tax returns of anyone who files in New York, as Trump and many of his businesses did. The State Assembly has enough support to pass the bill, too, though no vote is yet scheduled.
But the important fight might end up being in Mehta's courtroom. "Arguably you could get a lot more information from the accounting firm than you could from the tax returns," former federal tax prosecutor Kevin Sweeney tells CNN. "They'd keep the documentation they used to prepare that return."
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
The dazzling coral gardens of Raja AmpatThe Week Recommends Region of Indonesia is home to perhaps the planet’s most photogenic archipelago.
-
Trump’s White House ballroom: a threat to the republic?Talking Point Trump be far from the first US president to leave his mark on the Executive Mansion, but to critics his remodel is yet more overreach
-
‘Never more precarious’: the UN turns 80The Explainer It’s an unhappy birthday for the United Nations, which enters its ninth decade in crisis
-
Warner Bros. explores sale amid Paramount bidsSpeed Read The media giant, home to HBO and DC Studios, has received interest from multiple buying parties
-
Gold tops $4K per ounce, signaling financial uneaseSpeed Read Investors are worried about President Donald Trump’s trade war
-
Electronic Arts to go private in record $55B dealspeed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
