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1 week ago

News Source: abc7news.com
CA Lawmakers Pass Bill Requiring Trump, Presidential Candidates To Release Tax Returns
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CA Lawmakers Pass Bill Requiring Trump, Presidential Candidates To Release Tax Returns

SB 27, co-authored by Senators Mike McGuire and Scott Wiener, was approved by the State Assembly Monday with a 57-17 vote, according to McGuire's office. It will be heard again in the State Senate this week, and if approved, will head to Gov. Gavin Newsom for his signature.

In May, McGuire and Wiener amended the legislation to extend the transparency rules to the office of the Governor of California, as well as presidential candidates.

The Presidential Tax Transparency & Accountability Act will require basic tax information to be shared with California residents, and require that all presidential and gubernatorial candidates release the last five years of their tax returns in order to appear on the state ballot. The returns will be made available to the public on the Secretary of State's website, according to McGuire's office.

The measure also includes an urgency clause, which would allow the legislation to take effect immediately, prior to the filing deadline for 2020 presidential candidates.Meanwhile, Trump's New York tax returns could be given to Congress under a new law in his home state that was signed Monday by the Democratic governor and dismissed by Republicans as a partisan game that wouldn't stand up in court.

Designed to give Congress a way around the Republican president's refusal to release his returns, the new law is expected to face legal challenges. And it's unclear whether Congress will request access to Trump's state returns, which tax experts say would include many of the same details as his federal return.

Trump has long filed taxes in New York as a resident of the state. He is the first president since Watergate to decline to make his returns public, often claiming that he would release them if he were not under audit.