A New York lawmaker is proposing a bill to allow a requesting Congressional committee to obtain President Donald Trump’s state tax returns.
On Monday, New York State Senator Brad Hoylman introduced S 5072 to amend the state’s tax law, which currently prohibits the sharing of state tax return information.
Under the proposed legislation, the New York State Department of Taxation and Finance will have the authority to share state tax returns to a requesting Congressional Committee with a legitimate legislative purpose.
The bill will cover different types of tax information including personal income tax, NYC personal income tax, corporation tax, business franchise tax, estate tax, and real estate transfer tax.
Currently, a 1924 federal law allows three Congressional tax committees to obtain, review, and disclose the federal tax returns of any taxpayer from the U.S. Department of Treasury.
Proposed legislation will help Congress hold elected officials accountable
In a statement, Hoylman said, “This new bill will permit New York State to comply with requests from congressional investigative committees and help ensure Congress can’t be blocked in their attempts to hold even the highest elected officials in the land accountable to the American people.”
