Trump appeared unfazed by the request for six years of his returns Wednesday night.
During the campaign, Trump's attorney and fixer Michael Cohen told reporters that Trump was under audit and therefore could not allow the returns to be released.
Just this week, House committee chairs have readied subpoenas to demand the full release of Robert Mueller's Russian Federation report and to examine accusations of abuses in the White House's handling of top secret security clearances.
"There is nothing we can ever give to the Democrats that will make them happy", Trump tweeted. The committee vote was 24-17 along party lines, with Democrats in favor and Trump's fellow Republicans opposed. Democrats have been promising a full investigation into Donald Trump's finances since Trump first took office, and activist groups have only clamored more forcefully for Trump's tax returns in the wake of the Mueller report, which dashed their hopes of a quick and easy impeachment.
Neal said the timing of his request had nothing to do with the completion of independent counsel Robert Mueller's investigation into whether Trump colluded with Russian Federation during the 2016 election.
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The bank responded on March 21 that it was preserving the documents requested but would hand them over only under subpoena, according to a copy of the letter from Brent Timberlake, the company's counsel. Once or twice reports leaked out that Mueller was about to expand in that direction, but nothing much came of it. The only logical reason why Trump is hiding his returns is because they either prove he is not as rich as he claims to be and/or they expose him to criminal liability.
U.S. President Donald Trump on Thursday threatened to impose tariffs on vehicle imports from Mexico unless it does more to stop illegal migrants and drug trafficking, his latest warning to America's southern neighbour to tighten border security.
Financial disclosure has become an issue in the Democratic primary, with several Democrats already releasing their tax returns, including Senator Elizabeth Warren of MA.
Trump said he would "probably start off with the tariffs - that will be a very powerful incentive".
The IRS has a policy of auditing the tax returns of all sitting presidents and vice presidents, "yet little is known about the effectiveness of this program", Neal said in the statement.
While speaking to the media Wednesday, the president said he will not comply with the request as those audits are still taking place.
Every U.S. president since Gerald Ford in the 1970s has voluntarily made his tax returns public. A rarely used 1924 law says the Treasury chief "shall furnish" the requested material to members of the Ways and Means Committee for them to examine behind closed doors. Such a scenario could see the Ways and Means committee issue a subpoena after Neal's April 10 deadline and the unleashing of a complicated legal duel.