Categories
Audio Sources - Full Text Articles

Biden taking tougher stance on China in 2023

(NewsNation) — A new year has ushered in a possible new posture toward China by the U.S.

The White House told NewsNation the Biden administration will continue to get tougher through a series of new policies in 2023 aimed at limiting China’s influence, economic growth, and military strength.

“We are facing a competitor that is determined to overtake U.S. technological leadership and willing to devote nearly limitless resources to that goal,” Jake Sullivan, national security adviser said.

Sullivan called it the “Protect Agenda.”

The plan no longer views Chinese growth as beneficial to the U.S. as a partner, but rather as a threat from a geopolitical rival.

The shift on China builds on what the Trump administration started, and we’re already seeing the Biden administration implement it. In the last few months, the White House has imposed limits on American companies’ foreign investments in China and on their manufacturing of certain things there, such as microchips, saying it will, “prevent companies that receive taxpayer money from turning around and making investments in China that undermine our national security.”

But the “Protect Agenda” may end up hurting American consumers. Continued tariffs and strained relations with China could result in Americans paying more for everyday products. That’s a price the White House and most of Congress seems willing to pay.

“There is a bipartisan concern over the long-term U.S. Rep. Mike Gallagher, R-Wis.

In the new year, Gallagher will chair the brand new select committee on China, designed with largely the same goal as the White House’s “Protect Agenda.”

Gallagher told NewsNation earlier this year that his biggest worry is China’s growing military and the threat of a Taiwan invasion.

“We are simply not acting with the requisite sense of urgency this threat demands,” Gallagher said.

The Bureau of Labor Statistics said prices for everything imported from China increased 1.8% from last year.

Categories
Audio Sources - Full Text Articles

American Airlines crewmember killed at Alabama airport

(NewsNation) — An airline employee in Alabama is dead on New Year’s Eve due to an industrial incident, according to the Montgomery Regional Airport.

A tweet posted shortly after 6 p.m. on the official account for the airport said that “around 3 pm an American Airlines ground crew piedmont employee was involved in a fatality, no additional information is available at this time.

“Our thoughts and prayers are with the family of the deceased,” the tweet stated.

The worker was reportedly on the ramp of a parked regional carrier flight at the time of the incident. The airline was closed after the incident, and two people briefed on the matter said they believe the employee was killed in an accident involving one of the airplane’s engines, according to Reuters.

“We are saddened to hear about the tragic loss of a team member of the AA/Piedmont Airlines, said Wade A. Davis, executive director of Montgomery Regional Airport. “Our thoughts and prayers are with the family during this difficult time.”

Normal operations have since resumed, but all flights were grounded until about 8:30 p.m. Saturday.

The deceased employee has not yet been named and the circumstances of the death have not been released, as an investigation is underway.

This is a developing story. Check back for updates.

Categories
Audio Sources - Full Text Articles

This is creepy even for Lindsey Graham

19121c5c768fb6ee35d5576afe2d9a7f?s=100&d

Help support Palmer Report! Our articles are all 100% free to read, with no forced subscriptions and nothing hidden behind paywalls. If you value our content, you’re welcome to pay for it:

Pay $5 to Palmer Report:

Pay $25 to Palmer Report:

Pay $75 to Palmer Report:



In a recently released January 6 committee transcript, new information was learned about Trump sycophant Lindsey Graham. Georgia Secretary of state Bard Raffensperger said that he was extremely turned off when Graham tried to contact him about the results of the 2020 presidential election. He said that call was placed by Graham on November 13, 2020. And Raffensperger said Lindsey had a rather strange request.

Apparently, Graham spoke about credit card companies. And he explained that these companies retain millions of signatures. Gabe Sterling handled the call, and reportedly, Graham was pitching a sort of different kind of process for signature verification, and that is when the talk of credit card companies came up.

“He was talking about a process of using companies, and I didn’t know exactly where he was going,” said Raffensperger. “I just didn’t want to go where he was. — where I thought he might want to go. I just thought it best not to call him back.”

This is weird and a little bit eerie. What in the world was Lindsey Graham thinking? There wasn’t any type of LEGAL process that could have been used. Lindsey Graham is in a lot of trouble here. A lot of things sort of lead straight back to him — things that cannot be explained away.

Click here to support Palmer Report! Our articles are all 100% free to read, with no forced subscriptions and nothing hidden behind paywalls. If you value our content, you’re welcome to pay for it:

Pay $5 to Palmer Report:

Pay $25 to Palmer Report:

Sign up for the Palmer Report mailing list

Follow Palmer Report on FacebookTwitterPostMastodon


“We just never got back to him,” Raffensperger explained. Well, that’s likely because he didn’t want to break the law. Graham was likely feeling him out, seeing if he was the type who WOULD break the law, testing him, pushing buttons, trying to see how far he could go.


Lindsey Graham is one of the saddest cases of this whole sordid story. And by “saddest,” I do not mean to imply I feel sorry for him. On the contrary, he disgusts me.

But if anyone out of this whole thing should have known better, it’d be Graham. The guy has now destroyed his reputation and his political future, and who knows, perhaps prison time will also follow. All for one red-faced traitor who never gave a damn about him.

Support Palmer Report! Our articles are all 100% free to read, with no forced subscriptions and nothing hidden behind paywalls. If you value our content, you’re welcome to pay for it:

Pay $5 to Palmer Report:

Pay $25 to Palmer Report:

Pay $75 to Palmer Report:

Write for the Palmer Report Community Section.

Help support Palmer Report! Our articles are all 100% free to read, with no forced subscriptions and nothing hidden behind paywalls. If you value our content, you’re welcome to pay for it:

Pay $5 to Palmer Report:

Pay $25 to Palmer Report:

Pay $75 to Palmer Report:

The post This is creepy even for Lindsey Graham appeared first on Palmer Report.

Categories
Audio Sources - Full Text Articles

Factbox: UK, France add to COVID restrictions on Chinese travellers

2022-12-30T20:49:54Z

Travellers walk with their luggage at Beijing Capital International Airport, amid the coronavirus disease (COVID-19) outbreak in Beijing, China December 27, 2022. REUTERS/Tingshu Wang

Authorities around the world are imposing or considering curbs on travellers from China as COVID-19 cases in the country surge following its relaxation of “zero-COVID” rules.

They cite a lack of information from China on variants and are concerned about a wave of infections. China has rejected criticism of its COVID data and said it expects future mutations to be potentially more transmissible but less severe.

Below is a list of regulations for travellers from China.

UNITED STATES

The United States will impose mandatory COVID-19 tests on travellers from China beginning on Jan. 5. All air passengers aged two and older will require a negative result from a test no more than two days before departure from China, Hong Kong or Macau. The Centers for Disease Control and Prevention also said U.S. citizens should also reconsider travel to China, Hong Kong and Macau.

The UK will require a pre-departure negative COVID-19 test from passengers from China as of Jan. 5, the Department of Health said on Friday.

France will require travellers from China to provide a negative COVID test result less than 48 hours before departure, the health and transport ministries said on Friday.

From Jan. 1, France will also carry out random PCR COVID tests upon arrival on some travellers coming from China, a government official told reporters.

The country has mandated a COVID-19 negative test report for travellers arriving from China, Hong Kong, Japan, South Korea and Thailand, the health minister said. Passengers from those countries will be quarantined if they show symptoms or test positive.

Japan will require a negative COVID-19 test upon arrival for travellers from mainland China. Those who test positive will be required to quarantine for seven days. New border measures for China went into effect at midnight on Dec. 30. The government will also limit requests from airlines to increase flights to China.

Italy has ordered COVID-19 antigen swabs and virus sequencing for all travellers from China. Milan’s main airport, Malpensa, had already started testing passengers arriving from Beijing and Shanghai. “The measure is essential to ensure surveillance and detection of possible variants of the virus in order to protect the Italian population,” Health Minister Orazio Schillaci said.

Spain will require a negative COVID-19 test or a full course of vaccination against the disease upon arrival for travellers from China, the country’s Health Minister Carolina Darias said.

Malaysia will screen all inbound travellers for fever and test wastewater from aircraft arriving from China for COVID-19, Minister Zaliha Mustafa said in a statement.

Taiwan’s Central Epidemic Command Centre said all passengers on direct flights from China, as well as by boat at two offshore islands, will have to take PCR tests upon arrival, starting on Jan. 1.

South Korea will require travellers from China to provide negative COVID test results before departure, South Korea’s News1 news agency reported on Friday.

AUSTRALIA

Prime Minister Anthony Albanese said Australia was monitoring the situation in respect of China “as we continue to monitor the impact of COVID here in Australia as well as around the world.”

The Southeast Asian country is being “very cautious” and could impose measures such as testing requirements on visitors from China, but not an outright ban, Transportation Secretary Jaime Bautista said.

Categories
Audio Sources - Full Text Articles

Out with a bang

lorraine-evanoff.jpg

Help support Palmer Report! Our articles are all 100% free to read, with no forced subscriptions and nothing hidden behind paywalls. If you value our content, you’re welcome to pay for it:

Pay $5 to Palmer Report:

Pay $25 to Palmer Report:

Pay $75 to Palmer Report:



As an accountant-turned-writer, it is fitting that Donald Trump’s tax returns were released on the last business day of 2022, giving me the perfect subject for my last Palmer Report piece of the year. Being from Chicago, it is fitting the notorious Chicago gangster Al Capone was sentenced to 11 years in prison for tax evasion, after a scrappy Chicago financial sleuth George E.Q. Johnson nailed him for tax evasion.

And now, the Manhattan District Attorney has Trump nailed for tax evasion. According to Pulitzer Prize winning lecturer David Cay Johnston, over the past six years Donald Trump used “fake businesses” to file 26 Schedule C’s to report huge expenses to artificially offset earnings on his other business, allowing Trump to turn $154 million of positive income, into $53 million in losses.

Trump knew those tactics were fraudulent. He was audited and tried civilly in New York City and New York State over his 1984 tax returns when he used the same Schedule C tactic to claim $600,000 in losses on his NY businesses. Two judges wrote scathing opinions against Trump, putting him on notice.

Click here to support Palmer Report! Our articles are all 100% free to read, with no forced subscriptions and nothing hidden behind paywalls. If you value our content, you’re welcome to pay for it:

Pay $5 to Palmer Report:

Pay $25 to Palmer Report:

Sign up for the Palmer Report mailing list

Follow Palmer Report on FacebookTwitterPostMastodon


Manhattan District Attorney Alvin Bragg is investigating Trump for tax matters. On December 7th, Bragg got convictions on all 17 counts of tax fraud against Trump Organization, which is 100% owned by Donald Trump. So, conviction for tax evasion seems like a sure thing.


But we must prevent this from happening in the future. Currently, there is no federal law requiring presidential candidates to release their tax returns. When Congress requested Trump’s tax returns four years ago citing a law that required the records be provided, Trump avoided having his returns released or even audited for the first two years of his presidency because his appointed head of the Treasury Steven Mnuchin defied the law.

In 2019, because of Trump, California passed a state law requiring California presidential primary candidates to release their tax returns. However, the California Supreme Court overturned the law citing the California Constitution makes it clear voters must decide. That is why Congress must pass a federal law requiring presidential candidates to release their tax returns. The good news is, 2022 is going out with a bang. The bang of a jail cell slamming on Donald Trump in 2023.

Support Palmer Report! Our articles are all 100% free to read, with no forced subscriptions and nothing hidden behind paywalls. If you value our content, you’re welcome to pay for it:

Pay $5 to Palmer Report:

Pay $25 to Palmer Report:

Pay $75 to Palmer Report:

Write for the Palmer Report Community Section.

Help support Palmer Report! Our articles are all 100% free to read, with no forced subscriptions and nothing hidden behind paywalls. If you value our content, you’re welcome to pay for it:

Pay $5 to Palmer Report:

Pay $25 to Palmer Report:

Pay $75 to Palmer Report:

The post Out with a bang appeared first on Palmer Report.

Categories
Audio Sources - Full Text Articles

North Korea“s Kim calls for new ICBM, greater nuclear arsenal

2022-12-31T23:13:14Z

North Korean leader Kim Jong Un has ordered the development of new intercontinental ballistic missiles and massive production of tactical nuclear weapons to counter threats from the United States and South Korea, state media said on Sunday.

At a key meeting of the ruling Workers’ Party, Kim highlighted the need to boost the country’s nuclear arsenal and secure “overwhelming military power” to defend its sovereignty and security.

Kim accused Washington and Seoul of carrying out a “plot to isolate and stifle” Pyongyang, calling it “unparalleled in human history.”

“He presented the task of developing another intercontinental ballistic missile system with a rapid nuclear counterattack capability as its basic mission,” the official KCNA news agency said.

The report came hours after North Korea fired a short-range ballistic missile off its east coast, in a rare late-night, New Year’s Day weapons test.


Categories
Audio Sources - Full Text Articles

Judicial security focus of U.S. Chief Justice Roberts“ annual report

2022-12-31T23:16:31Z

U.S. Supreme Court Chief Justice John Roberts on Saturday focused a year-end report on the judiciary on the need for stepped up security for federal judges, amid a surge in threats and as the United States is embroiled in a bitter debate over abortion.

Roberts’ nine-page annual report came just two weeks after the U.S. Congress approved legislation that aims to bolster security for Supreme Court justices and federal judges by allowing them to shield their personal information from being available online.

“The law requires every judge to swear an oath to perform his or her work without fear or favor, but we must support judges by ensuring their safety,” Roberts wrote, adding, “A judicial system cannot and should not live in fear.”

According to the U.S. Marshals Service, judges were subject to 4,511 threats and inappropriate communications in 2021, up from 926 in 2015. Threats targeting members of Congress have also significantly escalated in recent years.

“I want to thank the members of Congress who are attending to judicial security needs … essential to run a system of courts,” Roberts wrote in his 2022 Year-End Report on the Federal Judiciary.

An armed California man was charged last June with attempted murder after being arrested near the home of Justice Brett Kavanaugh.

The man told authorities he was upset about a draft Supreme Court opinion that was leaked in May, which paved the way for the conservative-leaning high court to overturn the 1973 Roe v. Wade decision legalizing the right to abortion nationwide.

Justice Samuel Alito, who wrote the majority opinion in this year’s Dobbs v. Jackson Women’s Health Organization case, later said the leak made conservative justices “targets for assassination.”

Liberals have criticized the high court’s 6-3 conservative majority as being out of step with public sentiment on abortion and other cases touching on social issues.

With several more high-profile cases pending, the Supreme Court potentially could end affirmative action policies used to increase racial diversity on college campuses and make it easier for businesses to refuse services to LGBT people based on free-speech rights.

Related Galleries:

The U.S. Supreme Court building is seen in Washington, U.S., June 26, 2022. REUTERS/Elizabeth Frantz

Chief Justice of the United States John Roberts departs the Trump impeachment trial in Washington, U.S., January 29, 2020. REUTERS/Brendan McDermid
Categories
Audio Sources - Full Text Articles

The New Year rings in as Asia then Europe usher out 2022

2022-12-31T23:03:10Z

Hong Kong welcomed the New Year with a multimedia light show over Victoria Harbour, as the city’s biggest countdown activity returned just three days after limits on group gatherings were lifted.

With fireworks planned in Paris, hopes for an end to war in Kyiv, and a return to post-COVID normality in Australia and China, Europe and Asia bid farewell to 2022.

It was a year marked for many by the conflict in Ukraine, economic stresses and the effects of global warming. But it was also a year that saw a dramatic soccer World Cup, rapid technological change, and efforts to meet climate challenges.

For Ukraine, there seemed to be no end in sight to the fighting that began when Russia invaded in February. On Saturday alone, Russia fired more than 20 cruise missiles, Ukrainian officials said, with explosions reported throughout the country.

Evening curfews remained in place nationwide, making the celebration of the beginning of 2023 impossible in many public spaces. Several regional governors posted messages on social media warning residents not to break restrictions on New Year’s Eve.

In Kyiv, though, people gathered near the city’s central Christmas tree as midnight approached.

“We are not giving up. They couldn’t ruin our celebrations,” said 36-year-old Yaryna, celebrating with her husband, tinsel and fairy lights wrapped around her.

Oksana Mozorenko, 35, said her family had tried to celebrate Christmas to make it “a real holiday” but added: “I would really like this year to be over.”

In a video message to mark the New Year, Ukrainian President Volodymyr Zelenskiy, Time Magazine’s 2022 Person of the Year, said: “I want to wish all of us one thing – victory.”

Russian President Vladimir Putin devoted his New Year’s address to rallying the Russian people behind his troops fighting in Ukraine.

Festivities in Moscow were muted, without the usual fireworks on Red Square.

“One should not pretend that nothing is happening – our people are dying (in Ukraine),” said 68-year-old Yelena Popova. “A holiday is being celebrated, but there must be limits.” Many Muscovites said they hoped for peace in 2023.

Paris was set to stage its first New Year fireworks since 2019, with 500,000 people expected to gather on the Champs-Elysees avenue to watch.

Like many places, the Czech capital Prague was feeling the pinch economically and so did not hold a fireworks display.

“Holding celebrations did not seem appropriate,” said city hall spokesman Vit Hofman, citing “the unfavourable economic situation of many Prague households” and the need for the city to save money.

Heavy rain and high winds meant firework shows in the Netherlands’ main cities were cancelled.

But several European cities were experiencing record warmth for the time of year. The Czech Hydrometeorological Institute said it was seeing the warmest New Year’s Eve on record, with the temperature in Prague’s centre, where records go back 247 years, reaching 17.7 Celsius (63.9 Fahrenheit).

It was also the warmest New Year’s Eve ever recorded in France, official weather forecaster Meteo France said.

In Croatia, dozens of cities, including the capital Zagreb, cancelled fireworks displays after pet lovers warned about their damaging effects, calling for more environmentally aware celebrations.

The Adriatic town of Rovinj planned to replace fireworks with laser shows and Zagreb was putting on confetti, visual effects and music.

Earlier, Australia kicked off the celebrations with its first restriction-free New Year’s Eve after two years of COVID disruptions.

Sydney welcomed the New Year with a typically dazzling fireworks display, which for the first time featured a rainbow waterfall off the Harbour Bridge.

“This New Year’s Eve we are saying Sydney is back as we kick off festivities around the world and bring in the New Year with a bang,” said Clover Moore, lord mayor of the city.

Pandemic-era curbs on celebrations were lifted this year after Australia, like many countries around the world, re-opened its borders and removed social distancing restrictions.

In China, rigorous COVID restrictions were lifted only in December as the government reversed its “zero-COVID” policy, a switch that has led to soaring infections and meant some people were in no mood to celebrate.

“This virus should just go and die, cannot believe this year I cannot even find a healthy friend that can go out with me and celebrate the passage into the New Year,” wrote one social media user based in eastern Shandong province.

But in the city of Wuhan, where the pandemic began three years ago, tens of thousands of people gathered to enjoy themselves despite a heavy security presence.

Barricades were erected and hundreds of police officers stood guard. Officers shuttled people away from at least one popular New Year’s Eve gathering point and used loudspeakers to blast out a message on a loop advising people not to gather. But the large crowds of revellers took no notice.

In Shanghai, many thronged the historic riverside walkway, the Bund.

“We’ve all travelled in from Chengdu to celebrate in Shanghai,” said Da Dai, a 28-year-old digital media executive who was visiting with two friends. “We’ve already had COVID, so now feel it’s safe to enjoy ourselves.”

In Hong Kong, days after limits were lifted on group gatherings, tens of thousands of people met near the city’s Victoria Harbour for a countdown to midnight. Lights beamed from some of the biggest harbour-front buildings.

It was the city’s biggest New Year’s Eve celebration in several years. The event was cancelled in 2019 due to often violent social unrest, then scaled down in 2020 and 2021 due to the pandemic.

Malaysia’s government cancelled its New Year countdown and fireworks event at Dataran Merdeka in Kuala Lumpur after flooding across the nation displaced tens of thousands of people and a landslide killed 31 people this month.

Celebrations at the capital’s Petronas Twin Towers were pared back with no performances or fireworks.

Reuters 2022 Year in Review

Related Galleries:

People gather on the Champs Elysees avenue during the New Year’s Eve celebrations near the Arc de Triomphe in Paris, France, December 31, 2022. REUTERS/Sarah Meyssonnier

Fireworks explode behind the Brandenburg Gate ahead of the New Year, in Berlin, Germany, December 31, 2022. REUTERS/Michele Tantussi

Fireworks explode over Victoria Harbour to celebrate the New Year in Hong Kong, China January 1, 2023. REUTERS/Tyrone Siu

Fireworks explode over the Chao Phraya River during the New Year celebrations, in Bangkok, Thailand, January 1, 2023. REUTERS/Athit Perawongmetha

Fireworks are set off before midnight at the New Year countdown at Marina Bay, Singapore December 31, 2022. REUTERS/Caroline Chia

Fireworks explode over Sydney Harbour during the New Year’s Eve celebrations in Sydney, Australia, January 1, 2023. REUTERS/Jaimi Joy

People gather outside the Burj Khalifa, the tallest building in the world, as they wait for the fireworks on the day of the New Year’s Eve celebrations, in Dubai, United Arab Emirates, December 31, 2022. REUTERS/Satish Kumar
Categories
Audio Sources - Full Text Articles

George Santos takes it on the chin

19121c5c768fb6ee35d5576afe2d9a7f?s=100&d

Help support Palmer Report! Our articles are all 100% free to read, with no forced subscriptions and nothing hidden behind paywalls. If you value our content, you’re welcome to pay for it:

Pay $5 to Palmer Report:

Pay $25 to Palmer Report:

Pay $75 to Palmer Report:



George Santos (liar and fraud, insurrection party, who the heck knows where he’s from) is quickly becoming a pariah, which is no less than he deserves. All over, people are deriding him. And now old tweets from the untalented Mr. Ripley clone have surfaced.

“LIAR!” This is George Santos having the nerve to tweet and call other people liars. I kid you not. It would be like if Lindsey Graham called someone spineless. So here is a list of some of the people George Santos (if that’s his name) has accused of being liars:

President Joe Biden

Rep. Adam Schiff

New York Mayor Eric Adams

New York Governor Kathy Hochul

And one tweet in particular really stands out. It was found by expert sleuths on Twitter and was apparently sent by Santos in August of 2021: “BIDEN IS A PATHOLOGICAL LIAR!”

Click here to support Palmer Report! Our articles are all 100% free to read, with no forced subscriptions and nothing hidden behind paywalls. If you value our content, you’re welcome to pay for it:

Pay $5 to Palmer Report:

Pay $25 to Palmer Report:

Sign up for the Palmer Report mailing list

Follow Palmer Report on FacebookTwitterPostMastodon


Ah, we see the con artist learned his craft, possibly from Trump. The caps and the exclamation points all point toward a Trumpy sort of liar. Naturally, Twitter was hysterical at the idea of George Santos having the nerve to call ANYONE else a liar. But the fact that Santos can still show his face in public does indeed show that he’s shameless.


And now Santos is also being mocked in print. In that regard, I point you toward one of the funniest articles I’ve ever had the pleasure of reading. It is called “In defense of George Santos.” It is written by Klaus Marre and I really suggest you not drink anything when reading it. It’s that good (and hilarious.)

So now the young Congressman who at this point has not resigned will walk into Congress, if indeed he does, as a human pariah, the butt of every type of joke there is, a punchline and a fool. Good luck navigating those waters, Con Artist Santos.

Support Palmer Report! Our articles are all 100% free to read, with no forced subscriptions and nothing hidden behind paywalls. If you value our content, you’re welcome to pay for it:

Pay $5 to Palmer Report:

Pay $25 to Palmer Report:

Pay $75 to Palmer Report:

Write for the Palmer Report Community Section.

Help support Palmer Report! Our articles are all 100% free to read, with no forced subscriptions and nothing hidden behind paywalls. If you value our content, you’re welcome to pay for it:

Pay $5 to Palmer Report:

Pay $25 to Palmer Report:

Pay $75 to Palmer Report:

The post George Santos takes it on the chin appeared first on Palmer Report.

Categories
Audio Sources - Full Text Articles

Trump’s tax returns to be released Friday after long fight

A House committee is set to release six years of Donald Trump’s tax returns on Friday, pulling back the curtain on financial records that the former president fought for years to keep secret.

The Democratic-controlled House Ways and Means Committee voted last week to release the returns, with some redactions of sensitive information, such as Social Security numbers and contact information. Their dissemination comes in the waning days of Democrats’ control of the House and as Trump’s fellow Republicans prepare to retake power in the chamber.

The committee obtained six years of Trump’s personal and business tax records, from 2015 to 2020, while investigating what it said in a Dec. 20 report was the Internal Revenue Service’s failure to pursue mandatory audits of Trump on a timely basis during his presidency, as required under the tax agency’s protocol.

The release raises the potential of new revelations about Trump’s finances, which have been shrouded in mystery and intrigue since his days as an up-and-coming Manhattan real estate developer in the 1980s. The returns could take on added significance now that Trump has launched a third campaign for the White House.

Trump’s tax returns are likely to offer the clearest picture yet of his finances during his time in office.

Trump, known for building skyscrapers and hosting a reality TV show before winning the White House, broke political norms by refusing to make public his returns as he sought the presidency — though he did give some limited details about his holdings and income on mandatory disclosure forms.

Instead, Trump has touted his wealth in the annual financial statements he gives to banks to secure loans and to financial magazines to justify his place on rankings of the world’s billionaires.

Trump’s longtime accounting firm has since disavowed the statements, and New York Attorney General Letitia James has filed a lawsuit alleging Trump and his Trump Organization inflated asset values on the statements as part of a yearslong fraud. Trump and his company have denied wrongdoing.

It will not be the first time Trump’s tax returns have been under scrutiny. In October 2018, The New York Times published a Pulitzer Prize-winning series based on leaked tax records that showed that Trump received a modern-day equivalent of at least $413 million from his father’s real estate holdings, with much of that money coming from what the Times called “tax dodges” in the 1990s.

A second series in 2020 showed that Trump paid just $750 in federal income taxes in 2017 and 2018, as well as no income taxes at all in 10 of the past 15 years because he generally lost more money than he made.

In its report last week, the Ways and Means Committee indicated the Trump administration may have disregarded a post-Watergate requirement mandating audits of a president’s tax filings.

The IRS only began to audit Trump’s 2016 tax filings on April 3, 2019 — more than two years into his presidency — when Ways and Means chair Rep. Richard Neal, D-Mass., asked the agency for information related to the tax returns.

By comparison, there were audits of President Joe Biden for the 2020 and 2021 tax years, said Andrew Bates, a White House spokesperson. A spokesperson for former President Barack Obama said Obama was audited in each of his eight years in office.

An accompanying report from Congress’ nonpartisan Joint Committee on Taxation raised multiple red flags about aspects of Trump’s tax filings, including his carryover losses, deductions tied to conservation and charitable donations, and loans to his children that could be taxable gifts.

The House passed a bill in response that would require audits of any president’s income tax filings. Republicans strongly opposed the legislation, raising concerns that a law requiring audits would infringe on taxpayer privacy and could lead to audits being weaponized for political gain.

The measure, approved mostly along party lines, has little chance of becoming law anytime soon with a new Republican-led House being sworn in in January. Rather, it is seen as a starting point for future efforts to bolster oversight of the presidency.

Republicans have argued that Democrats will regret the move once Republicans take power next week, and they warn that the committee’s new GOP chair will be under pressure to seek and make public the tax returns of other prominent people.

Every president and major-party candidate since Richard Nixon has voluntarily made at least summaries of their tax information available to the public. Trump bucked that trend as a candidate and as president, repeatedly asserting that his taxes were “under audit” and couldn’t be released.

Trump’s lawyers were repeatedly denied in their quest to keep his tax returns from the Ways and Means Committee. A three-judge federal appeals court panel in August upheld a lower-court ruling granting the committee access.

Trump’s lawyers also tried and failed to block the Manhattan district attorney’s office from getting Trump’s tax records as part of its investigation into his business practices, losing twice in the Supreme Court.

Trump’s longtime accountant, Donald Bender, testified at the Trump Organization’s recent Manhattan criminal trial that Trump reported losses on his tax returns every year for a decade, including nearly $700 million in 2009 and $200 million in 2010.

Bender, a partner at Mazars USA LLP who spent years preparing Trump’s personal tax returns, said Trump’s reported losses from 2009 to 2018 included net operating losses from some of the many businesses he owns through the Trump Organization.

The Trump Organization was convicted earlier this month on tax fraud charges for helping some executives dodge taxes on company-paid perks such as apartments and luxury cars.

___

Associated Press writer Paul Wiseman in Washington contributed to this report.

WP Radio
WP Radio
OFFLINE LIVE