NEW: NY's Democrat-controlled Senate approved a bill that would allow three congressional committees to get access to Trump's state tax returns, giving Democrats a potential end-run around the admin's refusal to disclose the president's returns
1 / 2FILE- In this Jan. 15, 2019, file photo, New York State Sen. Brad Hoylman, addresses members of the Senate at the state Capitol in Albany, N.Y. The Manhattan Democrat is one of the main sponsors of a bill that would allow congressional investigators to get access to President Donald Trump's state tax returns, giving Democrats a potential end-run around the administration's refusal to disclose the president's federal returns.
It would include filings related to personal income taxes, real estate taxes and corporate income taxes and cover up to five years of returns before the person took office. Ed Cox, chairman of the state Republican Party, called the proposal"a bill of attainder, aimed at one person."Federal law allows Congress to demand the president's tax returns under certain circumstances, but on Monday Treasury Secretary Steven Mnuchin declined to disclose Trump's federal returns to the Democratic-controlled House, saying the request"lacks a legitimate legislative purpose.
The New York Times reported Tuesday that Trump's businesses lost more than $1 billion from 1985 to 1994, based on tax information the newspaper acquired. New York's proposed law wouldn't authorize the discloser of Trump's returns in any of the years described in the Times report. The New York bill wouldn't make Trump's returns public, but Congress could potentially decide to do so.
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