A bill that would increase the state sales tax by a penny to reduce property taxes for home and business owners is no longer scheduled for a House vote Tuesday, suggesting troubled waters for the measure. He wouldn't disclose the details of what was discussed in the meeting, but he said he believes his Republican colleagues largely supported the bill.
White House officials didn't respond to a request for comment. "They're required to provide the president's tax returns to the chairman of the Ways and Means Committee when he requests them", Rep. Tom Suozzi (R-NY) told Cheddar in an interview Wednesday.
On Monday, Secretary of the Treasury Steven Mnuchin informed the House Ways and Means Committee that the Internal Revenue Service (IRS) will not release President Trump's taxes, claiming the request was unlawful.
Trump's home state is NY, where many of his business enterprises are based. Any law passed in NY might also be destined for a court challenge. Financial information in state returns is likely to mirror much of what is in his federal returns. "They continued to lose money every year, totaling $1.17 billion in losses for the decade", the report said. The legislation, known as the TRUST Act, is expected to advance as the state's Democratic Party seized control of the upper chamber last November during the 2018 midterm elections, winning 39 of the 63 seats.
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As President Donald Trump continues to refuse requests from Democrats on Capitol Hill to hand over copies of his tax returns, state lawmakers in NY are ramping up their efforts to obtain them.
"Americans have the right to know if the president is putting his business empire, or the interests of the public, first", said Susan Lerner, Executive Director of Common Cause New York, a group that supports the legislation.
If passed, the legislation would allow the state's tax commissioner to release any NY tax returns requested by the House Ways and Means Committee, the Senate Finance Committee and the Joint Committee on Taxation.
The bill - the latest round in a battle between the Republican president and the Democrat-led House of Representatives - will then have to be signed by Democratic Governor Andrew Cuomo, who has already signaled his support for the plan. The bill was crafted to eliminate an unintended loophole in the state's double jeopardy law that prosecutors say could undermine New York's ability to prosecute anyone pardoned by Trump.