Though every major party nominee since 1976 has released his tax returns while running for president, the practice has never been required by law. Sen. Ron Wyden (D-Ore.) wants to change that.
The senior Democrat on the Senate Finance Committee, which handles tax issues, introduced a bill on Wednesday that would force presidential candidates to release their most recent tax returns. The Presidential Tax Transparency Act, as the bill is called, would require candidates to make their latest three years of tax returns public no later than 15 days after becoming the nominee. If they do not comply, the treasury secretary would be directed to do so for them, provided the appropriate redaction of sensitive personal information.
“Since the days of Watergate, the American people have had an expectation that nominees to be the leader of the free world not hide their finances and personal tax returns,” Wyden said in a statement.
“Tax returns deliver honest answers to key questions from the American public,” he added. “Do you even pay taxes? Do you give to charity? Are you abusing tax loopholes at the expense of middle class families? Are you keeping your money offshore? People have a right to know.”
Only one major party presidential candidate is refusing to release any of his tax returns to the public right now, and his name is Donald Trump. The GOP nominee has said he cannot release his returns because they are currently under audit by the Internal Revenue Service. The IRS, however, has clarified there is nothing legally preventing someone from making a return public while it’s under audit.
Read in full on The Huffington Post: Senator Trolls Trump With Bill Requiring Presidential Nominees To Release Tax Returns