On Friday, the House Ways and Means Committee released former president Donald Trump’s tax returns in a major victory for Democrats. The documents cover six years including Trump’s time while in the White House. The Democrats are hoping that the returns will provide them with damaging information on the former president as he mounts his third presidential campaign.
The committee voted 24 to 16 along party lines to release Trump’s tax returns late Tuesday evening.
According to Fox Digital:
The analysis within the reports conclude that any lack of proper taxation on Trump’s earnings appears to have been ultimately a failing of the IRS and not the result of pressure or obfuscation from the White House.
Trump’s family of enterprises used reported losses, foreign tax credits, deductions, charitable donations and many other financial maneuvers to great effect in offsetting taxation on profits.
These business tactics frequently shrank his otherwise sizable tax requirements down to miniscule amounts — sometimes under $1,000, according to the committee.
