Politics

This Bill Would Force Presidential Nominees To Release Tax Returns

REUTERS/Jonathan Ernst

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Juliegrace Brufke Capitol Hill Reporter
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Senate Finance Committee Ranking Member Ron Wyden introduced a bill requiring presidential candidates to release their tax returns Wednesday, taking a swipe at presumed GOP presidential nominee Donald Trump. 

The Ethics in Government Act and Federal Election Campaign Act would change federal the financial disclosure to include taxes in addition to the details on gifts, income, gifts, assets, certain transactions, liabilities, outside employment, trusts and certain agreements with outside parties candidates are already obligated to provide.

“Tax returns deliver honest answers to key questions from the American public,” Wyden said in a statement.“Do you even pay taxes? Do you give to charity?  Are you abusing tax loopholes at the expense of middle class families? Are you keeping your money offshore?  People have a right to know.”

The Oregon Democrat said presidential nominees have traditionally released their tax returns for nearly 40 years, also noting the Senate Committee on Finance requires all U.S. Senate candidates to release tax for confirmation.

Under the legislation, if the candidate failed to submit the information, the  Federal Election Commission would be granted the authority to seize the returns from the secretary of the Treasury and make the information public.

Trump said he will not release his tax returns until his IRS audit is complete.

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