Rep. Pascrell Reintroduces Presidential Tax Return Legislation

WASHINGTON, DC — On the eve of President Donald Trump's departure from the White House, New Jersey Rep. Bill Pascrell, Jr. reintroduced legislation which aims to require future presidents to do something Trump never did: release their tax returns.

Pascrell, along with Rep. Anna G. Eshoo, California, reintroduced the Presidential Tax Transparency Act, which would require sitting presidents and vice presidents and major party candidates for the presidency and vice-presidency to publicly disclose their 10 most recent federal income tax returns.

"The stunning corruption of the Trump regime has made clear for all time the priceless value of absolute transparency in our nation’s highest office," said Pascrell. "Being able to scrutinize the tax returns of a man or woman seeking to attain the most powerful position on earth is a low bar, and one that candidates long abided until 2016. Americans always must know if their President is a crook. Our legislation requires that never again will an occupant of the Oval Office be able to hide their tax returns from this nation."

The House passed Pascrell’s and Eshoo’s legislation in 2019 as part of H.R. 1, and the measure is included in the updated version of H.R. 1, which was reintroduced on Jan. 4.

"The American people must be confident that the President works in the public interest, not for their own financial gain," said Rep. Eshoo. "That’s why it’s critical that candidates release their tax returns before the election and continue to do so while in office. The Presidential Tax Transparency Act will mandate transparency from all future candidates and leaders, allowing the American people to properly scrutinize and evaluate their dealings for themselves."

According to the Tax History Project, most presidents and "some" vice presidents have released their tax returns while in office. However, the practice is not currently required by law.