WASHINGTON — President Donald Trump “has no intention” of releasing his tax returns to the public, Treasury Secretary Steve Mnuchin said Wednesday, asserting Americans have “plenty of information” about the president’s financial matters.
For decades, presidents have released their tax returns. But Trump has so far refused, saying that he would share the tax documents only after the Internal Revenue Service completes an “audit” of them.
He’s never disclosed proof of an audit and tax lawyers say there’s nothing preventing him from releasing his returns if he’s under one.
Trump said before he launched his campaign that he’d release them if he ever ran for office.
“If I decide to run for office, I’ll produce my tax returns, absolutely,” he told an Irish television station in 2014. “And I would love to do that.”
Mnuchin appeared to close the door completely Wednesday.
“The president has no intention. The president has released plenty of information and I think has given more financial disclosure than anybody else. I think the American population has plenty of information,” he said, inaccurately characterizing the president’s disclosures.
The comment came as the secretary briefed reporters on the president’s new proposal to overhaul taxes. Democrats have sought to use the tax debate to pressure Trump to release his returns, arguing the information is necessary to evaluate how Trump’s tax proposals would affect his personal wealth and his businesses’ bottom line.
Mnuchin declined to comment on how Trump would benefit from his proposals. He and other administration officials left the room as reporters shouted questions about how the plan would affect the Trump family.
Trump, a billionaire, owns a global real estate, marketing and property management company, which at the start of his presidency he placed in a trust that he can revoke at any time. His daughter and son-in-law, White House advisers, are also holding onto significant business assets. And Trump’s adult sons run his Trump Organization.
