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Mnuchin expected to defy Trump tax subpoena

Video Credit: Reuters Studio - Duration: 01:37s - Published < > Embed
Mnuchin expected to defy Trump tax subpoena

Mnuchin expected to defy Trump tax subpoena

U.S. Treasury Secretary Steven Mnuchin on Friday is expected to ignore a subpoena for President Donald Trump's tax returns by a leading congressional democrat, setting the stage for a lengthy court battle between lawmakers and the Trump administration.

Nathan Frandino has more.

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Mnuchin expected to defy Trump tax subpoena

(SOUNDBITE) (English) STEVEN MNUCHIN, TREASURY SECRETARY, SAYING: "You can guess which way we're leaning on our subpoena." In yet another act of defiance against congressional Democrats, the Trump administration on Friday is expected to ignored a subpoena seeking years of President Donald Trump's tax returns.

House Ways and Means Committee chairman Richard Neal sent a subpoena a week ago to both Treasury Secretary Steven Mnuchin and IRS Commissioner Charles Rettig.

Neal has repeatedly cited a federal anti-corruption law that says the Treasury Secretary "shall furnish such committee with any return." Neal said Friday he would wait for the 5 p.m.

Deadline to decide the next steps.

(SOUNDBITE) (English) REP.

RICHARD NEAL, (D) MASSACHUSETTS, SAYING: "I anticipate they won't meet that deadline and the result will be that we'll likely proceed to court as quickly as next week." REPORTER: "Would you consider holding Mnuchin in contempt?" NEAL: "Well I don't see that right now as an option.

I think the better option for us is to proceed with a court case, but we still have until 5 o'clock.

Who knows?" The move all but ensures a court battle in the coming months, which would test how much power Congress has to investigate the executive branch of government.

During the 2016 race, Trump became the first major party nominee in 40 years to break with the tradition of releasing their tax returns.

Trump has repeatedly said he is under no obligation to do so.

(SOUNDBITE) (English) U.S. PRESIDENT DONALD TRUMP, SAYING: "I have no problem with it but while I'm under audit I would not give my taxes, there is no law whatsoever." The refusal comes a day after the U.S. Office of Government Ethics released Trump's financial disclosures, showing a drop-off in revenues at Trump's Mar-a-Lago resort in Florida... modest gains at his Trump International Hotel in Washington... and at least $315 million in debt.




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