Mnuchin denies Dems request to see Trump's tax returns during hearing

Channel: Fox Business
Published: 4 hours ago

Description
Treasury Secretary Steven Mnuchin testifies during the House Financial Services Committee's hearing on "The Annual Testimony of the Secy of the Treasury on the State of the Intl Financial System - Part II." Mnuchin's last hearing before the House Financial Committee ended with an argument betwee...



Transcript
The gentlewoman from north carolina, mrs. adams, is recognized for five minutes. Thank you, mr. chairman. Thank you secretary managin for returning. You know you said you're patient, i'm patient too, but i've got to tell you i'm losing patience with with president. Do you know how many times the president trump has publicly offered to release his tax returns? I do not well, we should have somethin ...
on the screen he's personally offered to give us a glimpse of his tax returns at least 24 times. It was scrolling on the screen, it'll probably be back up. It was april 19th 2011. In an interview when he first said that he said that if president obama would release hisbirth certificate, then he'd released his tax reforms. But of course, president obama did do what he said. He'D do and the president did not do what he said.

He'D do so. Do you think the american people have a right to know what's in those tax before no, i don't. Presidents are not required to and the american public knew that he didn't release him before they voted for him. So that's right, i'm reclaiming my time now. Do you know what the president is? Hiding you repeat that i'm sorry, you know what he's hiding i mean he doesn't when you might see him, certainly not not scar. I don't think he's hiding anything but okay, so youdon't know we don't know anything about his tax rate. All right. So we've heard a lot of excuses over the years about why he could not release them. He said well, it was under audit and it, but once they finished that he would release them, but an irs commission to confirm that an ordinance not necessary for you to release your tax returns. Are you aware that i am but that's the president's decision and i'm not involved in the president's decision right? Let me reclaim my time i want to get through my questions. So are you familiar with congress's oversight authority? Yes, i am okay, so it's found in the constitution and public laws and thehouse and senate rules, and it does say that, when the request is made by the appropriate offices that that you should release him, are you aware of that i've read the law. I'Ve also been advised of the interpretation of the law, and i understand the constitutional issues all right.

So why haven't you complied with with chairman neal's request, because i think that would be unlawful, as advised by the department of justice and that's. Why there's a third branch of government that most likely were then made me clean my time so so. Are you aware, then, that by denying this that you are in direct violation of the law? No, absolutely not, i have been advisedi am not violating the law. I never would have done anything that violated the law and, quite the contrary, i've been advised had i turned them over. I would be violating around me. So are you alleging that chairman neal lacks a legislative purpose, and that is the basis for your refusing his request. Well, given that this is now most likely going to litigation, i think my letters have been quite clear and why we have denied the request and that's all right. Okay, let me move on. Thank you very much. So are you intending to comply with the request at all? No i've made clear him a letter that it would be unlawful for all rightokay, sir, would claim in my time now have you told the irs not to respond to chairman neal's request the irs independently. The chairman independently wrote a letter concurring with them. Yes, can you give me yes or no? Have you you repeat the question? Have you told the irs not to respond to the request? Again, i just said the irs independently wrote a letter.

Okay, let me clean my time, can you give me a yes or no? I don't all right, okay, you might not you, you won't give me yes or no all right. So let me ask you: first of all i did. I did a little research myself and i know that you'vedone some work with goldman sachs and in the investment banking sector have you ever lost a billion dollars. I have never lost a billion dollars. Would you enter into a business relationship with someone who had a track record of losing a million dollars? It depends if they made 10 billion and lost a billion all right. Okay, then you'll move. What would you invest in a business venture that has lost a billion dollars again if it made 10 billion? Thank you, sir. Let me reclaim my time real quickly. I do have some concerns about the the opportunity zones. I sent a letter to you. We haven't gotten a response, yet i hope that you will beable to respond to to the questions that i've asked in that letter. Are you gon na do? Did you get the letter? I assure you that i will check with my group this afternoon.

We very much support the opportunity zone, so we will be very reasonable right. I hope that you'll ensure that the program does not accelerate disruptive gentrification in those designated sense attracts sir, i yield back. Thank you very much share your concern. Thank you. Thank you. I want to acknowledge and i'm going from colorado. Mr. tipton is recognized.


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