Clarity into President Donald Trump’s financial situation is just one signature away in New York.
The state, where Trump holds residence and has headquartered much of his business interests, passed a law that would require the state’s tax commissioner to provide the state tax returns of any elected official to Congress upon request.
The bill passed the NY State Assembly floor in a vote of 84 to 53.
New York Governor Andrew Cuomo has said he will support the legislation, if it gets to his desk.
What it means: The bill would require the state’s top tax official to provide the returns at the request of the US House of Representatives Ways and Means Committee, the US Senate Finance Committee, or the Joint Committee on Taxation.
New York Democrats have positioned the bill as a way to hold the President accountable to oversight.
Why it matters: Trump has broken with 40 years of tradition in refusing to release his federal tax returns. He has repeatedly stated that Internal Revenue Service audits prevent their release, despite the fact that no audit would do so.
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