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

Mandatory Credit: Photo by Olivier Douliery/POOL/EPA-EFE/Shutterstock (10239972u)US President Donald Trump speaks at the National Association of Realtors Legislative Meeting and Trade Expo at the Washington Marriott Wardman Park in Washington, DC, USA, 17 May 2019.
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’
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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.

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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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About the Author

Dawn Allcot is a full-time freelance writer and content marketing specialist who geeks out about finance, e-commerce, technology, and real estate. Her lengthy list of publishing credits include Bankrate, Lending Tree, and Chase Bank. She is the founder and owner of GeekTravelGuide.net, a travel, technology, and entertainment website. She lives on Long Island, New York, with a veritable menagerie that includes 2 cats, a rambunctious kitten, and three lizards of varying sizes and personalities – plus her two kids and husband. Find her on Twitter, @DawnAllcot.

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