As we have previously reported, all Presidents and presidential candidates have voluntarily released their tax returns for public review for the past 40 years. However, Donald Trump continues to refuse to release his tax returns stating that continuous audits by the IRS prevent him from doing so.
Senator Ron Wyden, D-ORE., introduced an amendment to a defense bill that would require presidential candidates to release their tax returns. Wyden stated that he “would rather not have to write a bill that codifies a norm, an expectation for a person who voluntarily chooses to run for president.”
On the same day, Representative Anna Eshoo, D-Calif., introduced similar legislation in the House. “Tax returns are highly instructive. They contain vital information, such as did the person pay any taxes; did the person make charitable contributions; did the person take advantage of tax loopholes; or did the person keep money offshore?” stated Eshoo in a release.
Both bills would require that nominees release three years’ worth of tax returns with the Federal Election Committee within 15 days after their party’s nomination. We agree that presidential nominees should release their tax returns for public review because it does provide some insight into their income, their tax tactics, the amount they pay in taxes and the amount they give away to charity. What do you think?