Tell Congress: Pass the Presidential Tax Transparency Act

Petition to Congress: “Force the president and all presidential candidates to release their tax returns by passing the Presidential Tax Transparency Act.” Add your name:

The pressure is mounting on Trump over his taxes. The IRS already destroyed his main excuse, saying he can release his returns during an audit.1 The new Democratic chair of the House Ways and Means committee is under massive pressure to immediately use his legal authority to request Trump's tax returns. Democrats are also stepping up to the plate with legislation to force Trump's hand. Oregon Sen. Ron Wyden just reintroduced his Presidential Tax Transparency Act, which would make it mandatory for presidential candidates to release tax returns, and a similar bill is moving in the House. We need to push every possible avenue – from legislation to investigations – to expose Trump's taxes and demand members of Congress decide between loyalty to Trump and loyalty to our democracy. Tell Congress: Pass the Presidential Tax Transparency Act. Click here to sign the petition. Sen. Ron Wyden’s bill would require all candidates and sitting presidents to release their last three years of tax returns or the Federal Election Commission would do it for them.2 A similar proposal in the House will be included in the massive anti-corruption bill Democrats will push in the coming weeks.3  Trump’s taxes are the window to his entire web of swampy corruption: Tax fraud. A breathtaking New York Times investigation found that the Trump family used shell companies, illegal markups and undervalued properties to transfer millions from Fred Trump to Donald and his other children. The reporting not only explodes the myth of Trump the self-made billionaire, but also specifies "instances of outright fraud."4 Compromising financial ties to Russian oligarchs or the super-rich in America. Without a look at his tax returns, the American public cannot know whether Trump’s current debt or his previous business partnerships obligate him financially to Russian oligarchs aligned with Vladimir Putin. Trump’s debt load increased from $350 to $630 million in 2016, when American banks were reluctant to extend Trump credit.5In 2008, Trump’s son is claimed to have said, “Russians make up a pretty disproportionate cross-section of a lot of our assets. We see a lot of money pouring in from Russia."6 Profiting from the Trump Tax Scam and holding office. A government watchdog filed a lawsuit just days after the inauguration claiming that Trump is in violation of the Constitution because any payments to Trump from foreign entities violates the anti-bribery “emoluments” clause of the Constitution.7 It appears clear that Trump is using his position to enrich himself and his family. Republicans who oppose Wyden's bill are simply putting partisan loyalties ahead of allowing Americans to make informed decisions. By demanding that Congress act, we can keep the focus on Trump’s outrageous stonewalling, force Republicans to pick between loyalty to party and country, and lay down a principle for all candidates in future elections. We need strong legislation mandating release of tax returns now. Tell Congress: Pass the Presidential Tax Transparency Act. Click below to sign the petition: https://act.credoaction.com/sign/wyden_trump_taxes_2019?t=7&akid=31177%2E3130208%2EIsOM0h - Josh Nelson, CREDO Action Add your name: References: Michael Burke, "Top Finance Dem reintroduces bill that would require Trump to release tax returns," The Hill, Jan. 3, 2019. Ibid. Naomi Jagoda, "House Dems offer bill to require presidents to release tax returns," The Hill, Jan. 9, 2019. David Barstow, Susanne Craig and Ross Buettner, "Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father," The New York Times, Oct. 2, 2018. Josh Marshall, “Trump & Putin. Yes, It's Really a Thing,” Talking Points Memo, July 23, 2016. Tom Hamburger, Rosalind S. Helderman and Michael Birnbaum, “Inside Trump’s financial ties to Russia and his unusual flattery of Vladimir Putin,” The Washington Post, June 17, 2016. Kim Bellware and Cristian Farias, “President Trump Has Already Violated The Constitution, Lawsuit Claims,” HuffPost, Jan. 23, 2017.

Tell Congress: No tax legislation without Paradise Papers investigation. sign the petition.

petition to Congress: "Do not pass any tax-related legislation without first completing a full and public investigation into the offshore tax-dodging schemes revealed by the Paradise Papers, including financial ties between Trump Commerce Secretary Wilbur Ross and a Russian energy company linked to Vladimir Putin." Add your name:

One year after the Panama Papers revealed the tax dodging secrets of the ultra-wealthy, a new trove of documents called the “Paradise Papers” is making headlines across the world.1 Most shockingly, the papers reveal that Trump Commerce Secretary reportedly maintains financial ties to a Russian energy company with family ties to Vladimir Putin, despite claims to have divested such holdings.2 The more than 13 million pages of documents detail how well-connected Wall Street bankers, hedge funds and international corporations all dodge paying their fair share and name more than a dozen close Trump associates.3 These papers make it clear: There is one tax code for the rich and powerful and another for the rest of us. Congress cannot in good conscience proceed with any tax legislation – like the massive Trump tax scam moving right now – until it has pored over every line of these papers. Tell Congress: No tax legislation without Paradise Papers investigation. Click here to sign the petition. The Paradise Papers name some of the most prominent members in the Trump circle, including Secretary of State Rex Tillerson, economic adviser Gary Cohn and recent appointee to a big bank regulatory post at the Federal Reserve Randal Quarles. The documents also include corporations like Apple, Uber, and Nike; global political figures like the Queen of England; and major Trump backers like the Koch Brothers, Robert Mercer, and Sheldon Adelson.4,5 But perhaps worst of all are the revelations that Trump Commerce Secretary Wilbur Ross has financial ties to Russian oligarchs and did not reveal that information before his confirmation.6 As Sen. Richard Blumenthal said this weekend: “In concealing his interest in these shipping companies – and his ongoing financial relationship with Russian oligarchs – Secretary Ross misled me, the Senate Commerce Committee, and the American people. Secretary Ross’ financial disclosures are like a Russian nesting doll, with blatant conflicts of interest carefully hidden within seemingly innocuous holding companies.”7 The Paradise Papers show how the super-rich hide their wealth offshore while the rest of us pay taxes. Yet despite these reports, Trump Republicans are plowing ahead with the Trump tax scam that would raise taxes on the poor and middle class while giving a tax handout to the already wealthy. We need to raise our voices and insist on a full and complete investigation of the tax-dodging revealed in the Paradise Papers before Congress even thinks about passing new tax legislation. Tell Congress: No tax legislation without Paradise Papers investigation. Click here to sign the petition. The Paradise Papers shine a spotlight on the lawyers, accountants and bankers who help the ultra-rich hide their income in offshore shell companies and avoid taxes. At a time when Republicans try to reward their backers with corporate tax cuts and handouts for Wall Street billionaires, the papers are a shocking reminder that the tax system is already rigged against everyday people. The release of the Paradise Papers puts Trump Republicans and the worst of the 1% on the defensive. We need to make sure they can’t brush the reports aside by pushing for an immediate, exhaustive and public congressional investigation – and make it clear to moderate Republicans and corporate Democrats that there should be no movement on tax legislation until such an investigation is complete. Tell Congress: No tax legislation without Paradise Papers investigation. Click the link below to sign the petition. https://act.credoaction.com/sign/paradise-papers?t=8&akid=25953%2E3130208%2EElmd-S -Murshed Zaheed, Political Director CREDO Action from Working Assets Add your name: Photo: Drew Angerer/Getty Images References: Will Fitzgibbon et. al., “Offshore Trove Exposes Trump-Russia Links And Piggy Banks Of The Wealthiest 1 Percent,” International Consortium of Independent Journalists, Nov. 5, 2017. Richard Engel and Aggelos Petropoulos, “Paradise Papers: Leaks Show Wilbur Ross Hid Ties to Putin Cronies,” NBC News, Nov. 5, 2017. Sasha Chavkin and Spencer Woodman, “THE INFLUENCERS: Explore the offshore connections of 13 Trump advisers, donors and cabinet members,” International Consortium of Independent Journalists, Nov. 5, 2017. Fitzgibbon et. al., “Offshore Trove Exposes Trump-Russia Links And Piggy Banks Of The Wealthiest 1 Percent.” Chavkin and Woodman, “THE INFLUENCERS: Explore the offshore connections of 13 Trump advisers, donors and cabinet members.” Engel and Petropoulos, “Paradise Papers: Leaks Show Wilbur Ross Hid Ties to Putin Cronies.” Lois Nelson, “Wilbur Ross: Accusations that I failed to disclose Russia-linked investments are 'evil,’” POLITICO, Nov. 6, 2017.