05/24/2024
Lawmakers from both parties have teamed up in a bid to address tax controversies regarding former President Trump and President Biden by requiring tax return and other financial disclosures.
The Presidential Ethics Reform Act, introduced by House Oversight and Accountability Committee Chair James Comer, R-Ky., and Rep. Katie Porter, D-Calif., would require presidents and vice presidents to disclose their tax returns for the two years prior to holding office, the years while in office, and two years following their departure from office.
The legislation would require disclosures for the same periods of foreign payments, expensive gifts, and loan transactions, and would require presidents and vice presidents to make disclosures for immediate family members who receive foreign payments, expensive gifts, or loans, or who use official travel for personal business.
Read the full story for free in Tax Notes: https://taxnotes.co/4dPv0wR