Former US President Donald Trump avoided paying taxes during his final years as president in 2020 by claiming losses from his vast business, according to Reuters news agency, using tax data made public by a congressional panel.
The House of Representatives Ways and Means Committee, which is dominated by Democrats, released the documents late on Tuesday.
Trump’s income and tax liability underwent significant fluctuations during his four years as president, according to tax filings.
According to the documents, Trump and his wife, Melania, paid taxes for each of the four years, but they were able to reduce their taxes by demonstrating losses and deductions.
The committee has questioned some of the tax deductions the Trump family claimed, including the $916 million deduction, members said on Tuesday, adding that the tax returns were short on details.
The panelists announced that they will soon publish the redacted copies of his complete returns.
The Democratic party wants to wipe out every last piece of support for Trump, who has declared his desire to run for president in 2024, with the tax rebate revelations.
The change is noteworthy because, despite previous presidential candidates having done so for decades, Trump has refused to release his tax returns during his two campaigns for office and during his two presidential runs.
Additionally, the US Internal Revenue Service held off on looking into Trump’s tax returns until the Democrats pushed for action in 2019.
On Tuesday, the committee released a portion of Trump’s tax returns following a protracted legal battle.
Reacting to the development, a Trump spokesman termed the release of the documents “politically motivated”.
“If this injustice can happen to President Trump, it can happen to all Americans without cause,” Trump Organization spokesman Steven Cheung said on Wednesday.