Supreme Court Rules Trump Tax Returns Must Be Released To NY Grand Jury Tyler Durden Thu, 07/09/2020 – 10:17
The Supreme Court on Thursday ruled that a New York Grand Jury can have President Trump’s tax records, after Manhattan prosecutor Cy Vance subpoenaed eight years of returns in connection with an investigation into hush money payments made to porn star Stormy Daniels, according to Axios.
The court has yet to rule on whether House Democrats can have access to the records, after the lawmakers issued subpoenas to Deutsche Bank, Capital One, and the president’s longtime accounting firm, Mazars, for evidence of illegal conduct or hidden loyalties – despite no evidence of financial crimes or ‘collusion’ with Russia.
“He refuses to turn over the tax returns, what does he have to hide?” Financial Services Chairwoman Maxine Waters mused last May.
Then Oversight Chairman Elijah Cummings wrote in a memo that his subpoena was necessary to investigate whether President Trump “may have engaged in illegal conduct before and during his tenure in office.” –WSJ
Democrats then argued that obtaining Trump’s financial records could be a “useful case study” to learn about “unsafe lending practices” and “money laundering,” along with “efforts b Russia and other foreign entities to influence the US political process during and since the 2016 US election.” (via the WSJ)
Yet, as The Journal notes, D.C. Circuit Court of Appeals Judge Neomi Rao explained in her Mazars dissent:
“Allowing the Committee to issue this subpoena for legislative purposes would turn Congress into a roving inquisition over a co-equal branch of government.”
Medical records, private emails, cell phone logs – none of the President’s personal papers would be out of Congress’s reach.
The court will rule later today on the trio of House committee subpoenas.