Trump Tax Records Released... Zero Income Tax in Final Year of Presidency

[Asia Economy New York=Special Correspondent Joselgina] It has been revealed that former President Donald Trump paid almost no income tax over six years, including his four-year presidential term. In his final year in office, 2020, he did not pay a single cent.

According to local media such as The Washington Post (WP), the U.S. House Ways and Means Committee released Trump’s tax refund records from 2015 to 2020 on the 30th (local time).

[Image source=AP Yonhap News]

The data released that day confirmed that former President Trump paid almost no income tax during his four-year term. He paid $750 in income tax in his first year in office, 2017. It was confirmed that he paid $1.1 million in taxes during the early years of his administration, 2018?2019. In 2020, he did not pay income tax due to significant business losses.

Local media also noted that although former President Trump actively publicized his donation activities, saying "I will forgo my salary if I become president," he was actually stingy with charitable activities. In his final year in office, 2020, his charitable donations were $0.

Additionally, former President Trump reported capital gains of $22 million in 2018 and $9 million in 2019 from asset sales.

U.S. presidential candidates are required to disclose all tax records from their candidacy. However, former President Trump consistently refused to do so. In response, the U.S. House filed a related lawsuit in 2019, and after more than three years of legal battles, review, and investigation by the House, the full details were released on this day.

WP reported, "This shows that former President Trump paid almost no income tax relative to his total income over six years, including his four-year presidential term." CNN reported, "This supports the House and Senate tax committee reports that former President Trump continuously sought to reduce his taxes throughout his tenure."

Local media regarded this tax disclosure as the most comprehensive measure taken by the U.S. Congress in the past half-century. For former President Trump, who faces various judicial risks, this is seen as casting a darker cloud over his path to the 2024 presidential election.

This content was produced with the assistance of AI translation services.