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>>> THE BREAKING NEWS OF THE
NIGHT IS THIS LETTER FROM
TREASURY SECRETARY STEVEN
MNUCHIN TO RICHARD NEAL, THE
CHAIRMAN OF THE HOUSE WAYS AND
MEANS COMMITTEE SAYING THE
TREASURY WILL NOT AS REQUIRED BY LAW TURNOVER DONALD TRUMPS TAXBY
LAW TURNOVER DONALD TRUMPS TAX RETURNS TO THE CHAIRMAN AND
TREASURE RYE SECY SECRETARY SAYS
DETERMINED THE COMMITTEES
REQUEST LACKS A LEGITIMATE
LEGISLATIVE PURPOSE.
LEGISLATIVE PURPOSE. TWO THINGS, HE HAS NO LEG THE
RIGHT
RIGHT
-- LEGAL RIGHT TO DETERMINE
THAT AND THE COMMITTEE DOES NOT
NEED A LEGISLATIVE PURPOSE.
THE LAW SPECIFIES THE CHAIRMAN
CAN HAVE RETURNS FOR ANY REASON.
THERE IS ABSOLUTELY NO LIMITING
REASON.
ON THE CHAIRMAN GETTING THESE RETURNS AND SO, SECRETARY OF THE
TREASURY REJECTED THE HOUSE
DEMOCRATS DEMAND.
DEMOCRATS DEMAND. CHAIRMAN NEALS DEMAND FOR SIX
YEARS TO THE PRESIDENTS PERSON PERSONAL TAX RETURNS ANDPERSON
PERSONAL TAX RETURNS AND COMPILED TO THE DEADLINE BY
SENDING THIS LETTER DEFYING THE
LAW.
AND NOW WE HAVE.
WHAT IS GOING TO BE A BATTLE BETWEEN THE WHITE HOUSE ANDE
BETWEEN THE WHITE HOUSE AND CONGRESS THAT WEVE NEVER SEEN
BEFORE, A LEGAL BATTLE AND THE
LETTER, THE TREASURY SECRETARY SAID IN RELY JENSIANCERELIANCE,
DETERMINED THE COMMITTEES
REQUEST LACKS A LEGISLATIVE
PURPOSE AND THE DEPARTMENT IS
NOT AUTHORIZED TO DISCLOSE THE
REQUESTED RETURNS AND RETURN
INFORMATION.
EVERY SINGLE WORD OF THE
SECRETARYS LETTER IS NOT TRUE. AND IS LEGALLY FALSE.NOT TRUE.
AND IS LEGALLY FALSE. EVERY WORD OF IT.
SECRETARY MNUCHIN REFUSED, COULD NOT EXPLAIN HIS RATIONAL FOR NOT
COMPILING.
COMPILING.
COULDNT EXPLAIN IT BECAUSE HE
SAID THE JUSTICE DEPARTMENT IS
WORKING ON A LEGAL REASON AND THE JUSTICE DEPARTMENT, ATTORNEY
GENERAL WILLIAM BARR WILL
PUBLISH A LEGAL OPINION AS IF
THAT HAS ANY LEGAL WEIGHT.
RICHARD NEAL ISSUED A STATEMENT
SAYING THAT HE WILL CONSIDER WHAT ACTION TO TAKE, WHAT LEGAL
ACTION TO TAKE BUT IF THIS IS A
LEGALLY UNPRECEDENTED TERRITORY
THAT WE HAVE ENTERED TONIGHT.
THE CHAIRMAN SAID ILL CONSULT
WITH COUNSEL AND DETERMINE THE APPROPRIATE RESPONSE, THAT THE
APPROPRIATE RESPONSE, THAT RESPONSE IS SOMETHING THAT NO
CHAIRMAN OF THE HOUSE WAYS AND
MEANS COMMITTEE HAS EVER, EVER
HAD TO COME UP WITH IN A SITUATION LIKE THIS, EVERY
SINGLE TIME THE CHAIRMAN OF THE
FINANCE COMMITTEE DEMANDED TO
SEE TAX RETURNS UNDER THAT LAW,
THOSE TAX RETURNS HAVE BEEN
IMMEDIATELY DELIVERED BY THE
IRS.
THAT IS THE WAY THE LAW IS
SUPPOSED TO WORK.
WERE JOINED NOW BUT FRESHMAN
DEMOCRATIC CONGRESSWOMAN KATY PORTER FROM CALIFORNIA.N KATY
PORTER FROM CALIFORNIA. SHES A MEMBER OF THE HOUSE
FINANCIAL SERVICES COMMITTEE.
CONGRESSWOMAN KATY PORTER, THANK YOU FOR JOINING US.PORTER, THANK
YOU FOR JOINING US. I WANT TO GET YOUR REACTION.
THIS IS A VERY SIMPLE LAW AS YOU
KNOW AND YOURE A LAW PROFESSOR,
YOU KNOW HOW TO READ THESE
THINGS.
THERE IS NOT MUCH IN THE TAX
CODE THAT IS SIMPLE BUT THIS IS AND SIMPLY SAYS THAT THETHIS IS
AND SIMPLY SAYS THAT THE SECRETARY SHALL HAND OVER THOSE
TAX RETURNS.
>> YEAH AND THE U OF THE WORD SHALL IS IMPORTANT.F THE WORD
SHALL IS IMPORTANT. SO THIS IS NOT A DISCRETIONARY
OPTION, THIS IS NOT, THERE IS
NOT A LIST OF EXCEPTIONS, THERE
IS NOT A BUNCH OF DEFENSES HERE.
THIS IS A VERY SIMPLE LAW PASSED
BACK IN 1924, NOT NEW, IT BEEN
LONG PART OF OUR COUNTRYS
HISTORY AND OBLIGATES THE
TREASURY SECRETARY TO TURNOVER
THE TAXPAYERS TAX RETURNS, IN
THIS CASE PRESIDENT TRUMPS TAX
RETURNS AND MR. NEAL ASKED FOR
SIX YEARS OF BUSINESS AND
PERSONAL RETURNS IN ORDER TO
ALLOW CONGRESS TO DO IT JOB
WHICH IS OVERSIGHT.
>> IT SEEMS LEGALLY -- WHAT DO
YOU SEE HERE AS LEGALLY THE NEXT POTENTIAL STEP? LEGALLY THE NEXT
POTENTIAL STEP? >> I THINK THIS IS GOING TO
RESULT IN LITIGATION.
I THINK THERE ARE TWO CHOICES
CHAIRMAN NEAL AND CONGRESS COULD USE.RMAN NEAL AND CONGRESS COULD
USE.
BOTH WILL BE PROTRACTED AND
DELAY FROM THE IMPORTANT OTHER
WORK THAT CONGRESS SHOULD BE
DOING SO ONE OPTION IS TO
SUBPOENA THE TAX RETURNS AND THE
OTHER OPTION IS TO SUE UNDER THE
STATUTE ITSELF IN FEDERAL COURT. EITHER WAY, THIS WILL HAVE THET.
EITHER WAY, THIS WILL HAVE THE HOUSES LAWYERS WILL HAVE TO
BRING THE SALUTES AND THE
PRESIDENT IS THROWING PLENTY OF
OTHER WORK AT THE HOUSE COUNSEL
OFFICE SUING FOR EXAMPLE TO
OVERTURN THE AFFORDABLE CARE
ACT.
THIS IS ANOTHER STALL TACTIC. THIS PRESIDENT DOESNT WANT TO
PROVIDE ANYTHING.
PROVIDE ANYTHING.
HE DOESNT WANT TO PROVIDE THE UNDERLYING DOCUMENTS THAT MR.
MUELLER USED.
MUELLER USED. HE DOESNT WANT TO PROVIDE THE
TAX RETURNS. HE DOESNT WANT TO PROVIDE THIS
AND THAT.
AND THAT. THIS IS ONE CONSTITUTIONAL
CRISIS AFTER ANOTHER.
ALL OF WHICH IS AVOIDABLE IF THE
PRESIDENT WILL SIMPLY UNDERSTAND THAT IN THE UNITED STATES OFTAND
THAT IN THE UNITED STATES OF AMERICA, NOBODY IS ABOVE THE
LAW.
>> AND WE ARE ABOUT 18 MONTHS AWAY OF THE TAX RETURNS BEING
HANDED OVER IF THERE IS A NEW
PRESIDENT AFTER INAUGURATION DAY
BECAUSE THERE WOULD BE A NEW IRS
COMMISSIONER AND TREASURY
SECRETARY THAT WOULD NOT DEFY
THIS LAW.
>> CORRECT.
THESE TAX RETURNS ARE VERY
LIKELY TO BECOME PUBLIC AT SOME
POINT IF CONGRESS CONTINUES TO PURSUE THEM AND I THINK MY VIEW
FOR PRESIDENT TRUMP IS IF THERE
IS NOTHING TO SEE HERE THEN
ALLOW THE AMERICAN PEOPLE TO SEE
THEM.
SO YOU EITHER DID SOMETHING
WRONG, YOU DID SOMETHING YOURE
EMBARRASSED OF, MAYBE YOURE NOT
AS RICH AS YOU TOLD EVERYBODY
YOU WERE, YOU KNOW, THIS IS A
VALID CONGRESSIONAL PURPOSE AND THE LAW ITSELF DOESNT REQUIRE A
PURPOSE SO HERE WE SEE CHAIRMAN
NEAL GOING OUT OF HIS WAY TO SET
FORTH A PURPOSE THATS TO DO
OVERSIGHT AND THE PRESIDENT IS
CONTINUING TO OBSTRUCT THAT
PURPOSE.
IT EXTREMELY UNPRODUCTIVE WHAT THE PRESIDENT IS DOING AND IAT
THE PRESIDENT IS DOING AND I FEAR ITS ULTIMATELY CAUSING TO
CONTINUE TO WEAKEN THE AMERICAN
PUBLICS CONFIDENCE IN THE
PRESIDENT AND CONGRESS AND SO
THIS KIND OF BIPARTISAN
BICKERING BACK AND FORTH JUST
TURNOVER YOUR TAX RETURNS.
ITS WHAT THE REST OF US HAVE TO
DO TO THE IRS.
WERE NOT IN PUBLIC LIFE LIKE
PRESIDENT TRUMP IS.
>> TO THE EXTENT YOU COULD
DIVINE A PURPOSE TO THIS LAW SINCE IT WAS PASSED IN THE WAKE
OF THE TEAPOT DOME SCANDAL, IT
WAS ACTUALLY A LAW PASSED
SPECIFICALLY IN RESPONSE TO
CORRUPTION, PERCEIVED CORERUPTIO
AT THE PRESIDENTIAL ADMINISTRATION LEVEL AND SO THE
COMMITTEE ACTUALLY, THE CHAIRMAN
OF THE COMMITTEE WANTING TO SEE
ANYONE IN THE ADMINISTRATIONS
TAX RETURNS FOR POSSIBLE CORRUPT
PURPOSES, CORRUPT INVESTIGATIONS OF CORRUPTION IS EXACTLY WHAT IT
WAS DESIGNED TO DO.
>> CORRECT.
>> CORRECT. THIS IS THE PURPOSE OF THE LAW.
THE PURPOSE OF THE LAW IS TO ALLOW CONGRESS TO MAKE SUREO
ALLOW CONGRESS TO MAKE SURE THERE ISNT CORRUPTION GOING ON.
IT WAS PASSED IN THE 20s IN THE
WAKE OF SCANDALS INCLUDING
TEAPOT DOME AT THE TIME THERE
WAS A LAW TO ALLOW THE PRESIDENT
TO OBTAIN ANYONES TAX RETURNS
FOR ANY REASON UPON THE
PRESIDENTS REQUEST AND DESIGNED
TO EMPOWER CONGRESS TO HAVE THE CO-EQUAL POWER.RESS TO HAVE THE
CO-EQUAL POWER. SO THIS IS REALLY A BALANCE
ABOUT POWERS BETWEEN CONGRESS
AND THE PRESIDENT AND A RESULT
OF THE SECRETARY MNUCHINS FLAT OUT REFUSAL TO COALFOLLOW A CLEA
LAW AND WELL SEE IT GO TO THE
COURTS.
COURTS.
>> ONE OF THE REASONS THIS