Should the President be Required to Publicly Disclose His Tax Return? (H.R. 162)
Do you support or oppose this bill?
What is H.R. 162?
(Updated January 14, 2022)
This bill would require the president to publicly disclose their federal income tax return and all related attachments by making it available on the internet at providing the returns to relevant congressional committees. If a president fails to provide the required tax information or falsifies it, the Attorney General would be able to bring a civil action against them with penalty of up to $50,000. When a new president takes office, they would be required to submit their prior year’s federal income tax return within 90 days.
Certain redactions would be allowed, including the president’s Social Security number, taxpayer identification number, account numbers, and the name of any dependents of the president. If a president’s spouse files a joint return or a separate return, it would be subject to this legislation’s requirements.
Argument in favor
Requiring the disclosure of a president’s federal income tax return would make the public aware of any conflict of interest and encourage presidents to divest themselves of anything that may create a conflict.
Argument opposed
It’s wrong for Congress to require any individual to publicly disclose their tax return, even if they are the president or their spouse. Moreover, this is a partisan bill that the sponsor didn’t care to introduce during the current administration.
Impact
Presidents and their spouses; Congress; and the Attorney General.
Cost of H.R. 162
A CBO cost estimate is unavailable.
Additional Info
In-Depth: Rep. Brian Fitzpatrick (R-PA) reintroduced this bill from the 115th Congress as part of a package of anti-corruption legislation intended to significantly reform Congress and increase executive branch accountability and transparency:
“It is an honor to represent and serve the people of Bucks and Montgomery counties in the 116th Congress. I look forward to serving as their independent voice in Washington during a time when our citizens face a dysfunctional, hyper-partisan, and broken Washington. I believe that these ideas introduced today transcend political parties and strike at the heart of what our country needs: a rebirth of belief in our leaders and institutions so we can tackle the challenges we face and accomplish great things in this new era. Transparency and unimpeachable integrity are essential to a government that truly serves the people of the United States. This anti-corruption legislation will help restore the American’s people’s faith in Congress and hold public officials accountable."
Last Congress, Rep. David Cicilline (D-CT) introduced this bill to require President Donald Trump to release his tax returns and ensure that all future presidents to follow suit:
“Like many Americans, I am deeply concerned about what information President-elect Trump might be hiding in his tax returns... Americans should always have full confidence that the President is acting in our national interest, but President-elect Trump continues to undermine this confidence. This bill is a necessary tool to hold the President of the United States accountable and ensure he adheres to the highest ethical standards at all times."
This Congress, there's one cosponsor of this bill, Rep. Thomas Suozzi (D-NY). Last Congress, there were 28 cosponsors in the House, all of whom are Democrats.
Of Note: The last president to not release any tax returns or summary information was Lyndon B. Johnson.
President Trump's lawyers have threatened a court fight over the release of his tax returns. As of February 2019, Democrats are expected to go directly to the Internal Revenue Service (IRS) to demand Trump's tax returns under an obscure law giving the leaders of the House and Senate tax-writing committees the power to request taxpayer information.
Media:
- Sponsoring Rep. Brian Fitzpatrick (R-PA) Press Release (116th Congress)
-
Sponsoring Rep. David Cicilline (D-CT) Press Release (115th Congress)
- CNN (Context)
-
Providence Journal (Previous Version)
The Latest
-
🌎 Are You Ready To Take Action Against Climate Change?Scientists claim that last year "smashed" the record for the hottest year by a large margin , offering a "dramatic testimony" of read more... Environment
-
Should U.S. Implement a New Tax on AI to Fund Worker Benefits?The debate As technology advances, artificial intelligence (AI) becomes more integrated into our society. While leaders in AI read more... Artificial Intelligence
-
SCOTUS Hears Arguments of Abortion Pill Mifepristone CaseUpdated March 27, 2024, 12:30 p.m. EST On Tuesday, March 26, the Supreme Court heard arguments about the mifepristone case, read more... Women's Health
-
IT: ⛑️ It's American Red Cross Giving Day, and... How will you give back today?Welcome to Wednesday, March 27th, philanthropists and entrepreneurs... It's American Red Cross Giving Day - a time to ensure the read more...