Page 6 - State Returns News Today

Term democrat and regular critic of mr. trumps policies and behavior, would authorize state tax officials to release the presidents state returns to any one of three congressional committees. since trump is a new york resident and his business is based here, his state returns would include much of the same information as those federal returns. congress is trying to get their hands on it. meanwhile, federal judge ruled late today, hell allow congress to subpoena trump financial records from both ...

He said it doesnt apply in this situation and he said he hasnt talked to the president about his taxes, not at all of not one bit. meanwhile, in new york state, theyve passed a law to ends run native new yorker donald trump. "the new york times" puts it this way. the new york legislation which is expected to be signed by governor andrew cuomo, a third term democrat and regular critic of mr. trumps policies and behavior, would authorize state tax officials to release the presidents state returns ...

The president. i joined by a member of the house financial services committee. the director studies for georgetown law. congressman, im thinking this is bad, this is like three strike, up in albany, the democratic colleagues are saying we will release the state returns, which will reflect the federal returns. you got two judges saying his accounting firm, now deutsche bank and capital one all have to release the financial records of this president. he is losing this fight. >> look, the chickens ...

S -- lawmakers would see the presidents returns? >> reporter: because in new york the democrats are in control of everything. governors mansion, the upper and lower chambers of the state assembly where i am now. so they can pass a law that says that that is what they can do. they are trying to pass a that you will give the state the ability to what the leaders of the committees in washington who want to see president trumps tax returns request his state returns from the state of new york and giv...

Clear that president trump is on their agenda. you know, the state attorney general here has a number of investigations going on of president trumps finances, his businesses, which are all based here in new york and he is or was a resident of new york. so democrats in the legislature decided to get together to help their colleagues in washington who have been unable to get access to president trumps tax returns. so they have passed a bill, specifically crafted so that the chairman of the committ...

The democrat subpoena, rejecting his effort to halt it. unless a higher court steps in, this means trump is getting crushed on multiple fronts. this is his second straight offer to defy subpoenas. legislatively, new york state laws passing a new bill requiring congress to get his state returns upon request. and then the executive branch which donald trump runs but doesnt completely control within our system of government. it turns out, the experts at the irs contradict the administrations claim ...

So those state returns could have a lot of the same information. they could cast light on whether hes making money or losing money. we had a report out in "the times" two weeks ago showing he lost almost a billion dollars over the course of a decade in the 80s and 90s. this would be newer information that could cast light on his financial paralysis. >> when i look at this bill, president trumps name isnt on it. when there is discourse surrounding it, it focused on the president and being used in...

There are investigations, they will be on their own timeline here and thats something that the administration doesnt know how to deal with because there is no way to deal with it. they have to deal with so many different things here. all that said, this is hugely significant because so much of the presidents life, career, business is based in new york and you have people leading the government in new york who have been pretty explicit about wanting to conduct real oversight into the president an...

Subpoena from the body of norew york state. state regulators or city regulators speaking to the manhattan district attorneys office, there have been instances where there is even an investigation or something that comes out publicly or has been publicly reported. im thinking about michael cohens guilty plea with his taxes. i am saying i committed tax fraud on my federal returns. pretty good chance he did it on his state returns. something has come out publicly and opens the doors wide open to ge...

And tax fraud charges against paul manafort in the states of virginia and new york and potentially other places based on his guilty plea. hes admitted to evading taxes and defrauding banks, and if he evaded federal taxes, one can presume that his state returns had the same errors and fraud on them, and so a federal pardon by donald trump of paul manafort would not absolve him of state criminal charges, craig. >> ken delaney stand by for me if you can just for a moment. i want to get to hans nich...