2020-07-09 14:26:41 UTC
The hunt for President Trumps taxes is over.
The Supreme Court ruled Thursday that Trumps tax returns must be turned over to
prosecutors in New York, dealing a major blow to the president and paving the
way for the potentially incriminating documents to be released publicly before
The historic 7-2 decision forces Mazars USA, a financial accountant long used by
Trump and his family business, to comply with a subpoena from Manhattan District
Attorney Cy Vance, Jr., requesting eight of the presidents most recent personal
and corporate returns as part of a grand jury criminal investigation.
The Supreme Court was also expected to rule Thursday on whether Deutsche Bank
must comply with a subpoena for a similar set of documents issued by three
Democrat-led House committees.
Vance and the lawmakers had to use the backdoor way of asking Deutsche and
Mazars for the records since Trump refused to release them voluntarily. Hes the
only president in modern memory who didnt put out his tax returns for public
scrutiny upon taking office.
The battle over Trumps financial records began in April 2019, when the
Democrat-led House committees fired off subpoenas to Deutsche Bank and Mazars
USA as part of a web of inquiries into financial misdeeds by the president.
Vance followed up by issuing a subpoena in September 2019 to Mazars for a
similar set of documents as part of a criminal investigation into whether
Trumps namesake company falsified corporate records while scrambling to pay off
women who had alleged affairs with him before the 2016 election.
Trump sued to block the financial institutions from complying with either of the
subpoenas and rolled out legal arguments that contradicted themselves in the
On the one hand, Trumps lawyers argued that Vance didnt have legal standing to
subpoena Mazars because only Congress holds the constitutional power to
investigate a president.
But in the other case, the lawyers argued that the House committees didnt have
any legitimate reasons to investigate Trump, either, claiming they were
subjecting him to harassment.