WASHINGTON, D.C. (WTNH) — Connecticut Senator Chris Murphy and an Oregon senator have reintroduced the Presidential Tax Transparency Act.
The senators say the bill would require President-Elect Donald Trump and future presidential nominees to release recent tax returns, giving the public insight into income, holdings, and foreign business dealings.
“Americans deserve to know if the President of the United States is making decisions on behalf of the citizens of this country or to protect his own investments,” Senator Murphy said in a news release. “The presidency is the most powerful position in the world – with the stroke of a pen the President can lift or impose sanctions, affect federal contracts, or influence foreign government actions. The person sitting in that office shouldn’t be hiding anything about his or her financial interests.”
The bill would require sitting presidents to release their most recent three years of tax returns. Presidential nominees would have to release their most recent three years of tax returns within 15 days of becoming the nominee. If the president or nominees refuse to release their returns, the Secretary of the Treasury would be required to provide them.