WASHINGTON: Donald Trump paid no income tax during the final full year of his presidency as he reported a loss from his sprawling business interests, according to tax figures released by a congressional panel.
The records, released late on Tuesday by the Democratic-led House of Representatives Ways and Means Committee after a years-long fight, show that the former US president’s income, and his tax liability, fluctuated dramatically during his four years in the White House.
The records cut against the Republican leader’s long-cultivated image as a successful businessman as he mounts another bid for the White House.
Trump and his wife, Melania, paid some form of tax during all four years, the documents showed, but were able to minimise their income taxes in several years as income from Trump’s businesses was more than offset by deductions and losses.
The committee questioned the legitimacy of some of those deductions, including one for $916 million, and members said on Tuesday the tax returns were short on detail. The panel is expected to release redacted versions of his full returns in coming days.
Trump refused to make his tax returns public during his two presidential bids and his campaign for office, even though all other major-party presidential candidates have done so for decades.
Published in Dawn, December 22nd, 2022