Wyden on President Trump’s business losses and tax returns

Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today released the following statement in response to the New York Times’ reporting on President Trump’s business losses and tax returns:

“President Trump’s 2016 campaign was rooted in lie upon lie about his business success and how his business skills would benefit the country. He presented himself as a successful, self-made man, when in fact New York Times’ reporting shows that he inherited almost all of his money and lost millions, if not billions, of dollars per year during an economic boom.

“President Trump this morning sought to defend his business record by essentially claiming the losses were part of a shady scheme to avoid paying taxes. It’s a shocking admission of contempt for the law from the president of the United States.

“Releasing one’s tax returns is the lowest ethical bar for presidential candidates and this blockbuster from the Times further shows why it should be required by law, which is what my legislation would do. It also shows one of the reasons why Secretary Mnuchin has chosen to break the law, rather than comply with Chairman Neal’s request under section 6103 of the tax code for President Trump’s returns.”