mnuchin - Latest News Update, Information, Photos & Videos on mnuchin at Lokmat Times

In a letter sent to House Ways and Means Committee Chairman Richard Neal, Mnuchin on Friday said that the request "lacks a legitimate legislative purpose" and that he would not authorize the release of Trump's personal and business tax returns to the Congress, the Washington Post reported."The Committee's request is unprecedented and it presents serious constitutional questions, the resolution of which may have lasting consequences for all taxpayers," he wrote.The Chairman of the committee issued subpoenas last week that gave Mnuchin and Internal Revenue Service (IRS) Commissioner Charles Rettig a deadline of Friday (5 p.m.) to turn over Trump's financial records.House Democrats have expressed confidence the law requires the IRS to permit them to access the tax returns, a position supported by numerous legal experts, the report said.Democrats claim that Trump's business dealings present a host of potential conflicts of interest that they can't understand without his tax information.Mnuchin's refusal to turn over Trump's tax returns may be the last step before a federal court fight over Trump's financial records, the source of significant speculation since he refused to release them during the 2016 presidential campaign in a break with decades of precedent.Neal is expected to soon sue the administration in federal court to enforce the subpoenas, according to the Post."A lawsuit is the next step. There's no negotiation here," said Steve Rosenthal, an expert at the Tax Policy Centre, a non-partisan think tank.Mnuchin and congressional Republicans cited concerns over taxpayer privacy in denying the request, accusing Democrats of seeking to "weaponize" the IRS.The administration has not made public the Justice Department's legal guidance on the question of the president's tax returns.In response to Mnuchin's letter, Neal said that the law "provides clear statutory authority" for the Ways and Means Committee to review the returns, adding he would consult with legal counsel on the next step.Neal first demanded six years of Trump's personal and business returns, from 2013 to 2018, in letters to the administration last month.

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

MnuchinFOLLOW

Mnuchin, Latest News

International :Mnuchin praises 'historic' 1st phase trade deal with China

US Treasury Secretary Steven Mnuchin applauded the "historic" first stage of the trade agreement with China to mitigate the trade conflict between the two economic giants since last year. ...

Technology :US urges countries to suspend digital taxes

US Treasury Secretary Steven Mnuchin on Wednesday urged countries to "suspend" their individual digital services taxes and to wait for an international taxation agreement on the matter to be negotiated by the Organisation for Economic Cooperation and ...

Business :US Treasury Secy, RBI Guv discuss economy, regulatory issues

US Treasury Secretary Steven Mnuchin on Saturday met Reserve Bank of India Governor Shaktikanta Das and other top RBI officials and discussed global and domestic macro-economic scenario and regulatory developments in both countries, an RBI statement ...

National :US conscious of India's energy needs: Treasury Secretary

US Treasury Secretary Steven Mnuchin on Friday said that US is conscious of India's huge energy needs and both countries are working towards it while asking India to opening up of certain sectors for US companies to invest. ...

Business :US Treasury mulls issuing 50-year bonds

US Treasury Secretary Steven Mnuchin said that his department was seriously considering issuing 50-year bonds as soon as next year. ...

International :Mnuchin rejects subpoena for Trump's tax returns

US Treasury Secretary Steven Mnuchin has rejected a subpoena from House Democrats demanding President Donald Trump's tax returns in six years, setting the stage for a court battle over the documents. ...