Report on Trump's taxes is released by" the Democratic-led House Ways and Means Committee".

After deciding to release former President Donald Trump's tax returns, the Democratic-led House Ways and Means Committee on Tuesday issued a report on his taxes. This was the result of a lengthy campaign by House Democrats to obtain the former president's taxes.

Trump's tax returns can now be made public within a few days after the panel backed a motion to release the records to the House on a party-line vote. With all Democrats voting yes and all Republicans voting no, the motion was adopted.

The Joint Committee on Taxation's further analysis was included in a report that the committee also released on Tuesday night. Trump's 2015–2020 tax returns will be included in the panel's release of all information from Chairman Richard Neal's request to the IRS.

After House Democrats took control of Congress in 2019, they engaged in a nearly four-year court struggle with the former president that culminated with the release of Trump's tax returns. The Democratic investigation was partly motivated by long-standing concerns about Trump's taxes after he refused to release his returns while running for president in 2016 or once in office. On Tuesday, Neal centered his attention on the presidential audit program, reiterating that the material the committee obtained showed the required presidential audit of Trump's taxes "did not occur."

A representative for former President Donald Trump claimed that House Democrats were using politics to push for the public release of his tax returns.

According to Trump spokeswoman Steven Cheung, "this unprecedented leak by lameduck Democrats is proof they are playing a political game they are losing."

"If this injustice can occur to President Trump, it may occur to all Americans without justification," he continued.

Neal also declined to comment on whether he noticed any issues with Trump's personal or business tax returns. He remarked, "I think we need to leave that to the tax experts.

"It will include both the returns themselves and a summary of the returns. We just voted on it, according to Pennsylvania Democratic Rep. Brendan Boyle.

The presidential audit program will be codified into law through legislation that the committee will also release.

Neal informed reporters that in regards to Trump's taxes, the presidential audit program was ineffective. Trump's returns were first requested by the Ways and Means Committee in 2019 as part of a review of the IRS program that audits presidents.

After the committee hearing, he told reporters that "no study was done as it relates to the mandatory audit program." "I reiterate that the mandatory program was essentially nonexistent, as highlighted in what you will probably get in the next few minutes," she said.

He repeatedly stated that the presidential audit "did not occur," according to their investigation.

The committee's senior Republican, Rep. Kevin Brady, criticized Democrats for using Trump's financial data as a weapon. Brady said that the committee decided to make public six years' worth of Trump's tax returns as well as those from eight associated companies.

"What became obvious is that practically all of the audits the IRS is doing are not yet finished. Any descriptions of the returns themselves must therefore be acknowledged as incomplete at this point, according to Brady.

The long-awaited encounter, which started out in the open before rapidly switching to a closed-door, private session, comes as Democrats have just days to decide whether to make the former president's tax returns public. While releasing private financial information has a long history, Ways and Means would face significant political backlash given that Trump has already proclaimed his intention to run for president in 2024.