New U.S. law on strengthening surveillance
2022.12.22 14:02
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New U.S. law on strengthening surveillance
Budrigannews.com – After lawmakers came to the conclusion that the Internal Revenue Service did not properly examine Donald Trump’s returns while he was in the White House, the Democratic-led House of Representatives voted on Thursday to mandate that the IRS audit the tax returns of presidents.
The bill, which was approved by a vote of 222 to 201 that was largely based on party lines, has a low chance of passing the Senate and becoming law in the final days that Democrats control both chambers of Congress. In January, Trump’s fellow Republicans are expected to take control of the House.
However, it provides Democrats with yet another opportunity to discuss Trump’s tax returns, which he fought to keep secret for years despite the fact that other candidates for president have voluntarily disclosed them for decades.
After a long fight, a House panel released his tax returns on Tuesday, showing that despite earning millions of dollars from his vast business empire in his final full year in office in 2020, he paid no income tax.
Additionally, according to the House Ways and Means Committee, the IRS did not properly examine his returns while he was in office.
According to Trump’s tax records, during his first presidential campaign and subsequent term in office, his income and tax liability fluctuated significantly between 2015 and 2020. They demonstrate that in several of those years, Trump and his wife Melanie paid little or no income tax as a result of significant deductions and losses, thereby minimizing their tax liability.
Despite the fact that the IRS is supposed to audit presidents’ tax returns annually, it did not until Democrats demanded action in 2019 That IRS policy would become a legal requirement under the law.
The panel discovered that the IRS only assigned one agent to those audits the majority of the time and did not examine many of Trump’s complex deduction claims.
The IRS has declined to comment on this.
The House legislation would mandate that the IRS conduct annual audits of presidential tax returns and provide status updates.
The legislation, according to Democrat Ways and Means Committee Chairman Richard Neal, did not target Trump but rather sought to strengthen presidential oversight. There is no president in this; “This is about the future of the presidency,” he stated on the House floor.
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Republicans claim that the bill would make it easier for lawmakers to release private citizens’ tax information, which would set a dangerous precedent.
The panel’s top Republican, Representative Kevin Brady, stated, “This will provide a dangerous new political weapon that invites political retribution.”
