New York lawmakers are expected to move closer Wednesday to allowing the release of President Donald Trump's state tax returns, The New York Times is reporting.
New York is the headquarters of Trump's business empire, and the Times noted his state tax returns could contain much of the same information as his federal return. Trump has declined to release his federal tax returns.
Treasury Secretary Steven Mnuchin on Monday turned down a request by House Ways and Means Committee Chairman Richard Neal, D-Mass., for the president's federal tax returns.
Democratic State Sen. Brad Hoylman said the State Senate now has enough votes to pass a bill allowing the New York Department of Taxation and Finance to release any state tax returns sought by a leader of one three congressional panels for any "specified and legitimate legislative purpose."
The bill stipulates returns could only be released if the House Ways and Means Committee or the Senate Finance Committee or the Joint Committee on Taxation makes a formal request.
The proposed legislation would cover a range of filings, including corporation taxes, real estate transfer taxes, and personal income taxes.
Hoylman described the bill as "assisting Congress in its oversight role."
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