comscore Trump lost more than $1 billion from 1985 to 1994, New York Times says | Honolulu Star-Advertiser
Top News

Trump lost more than $1 billion from 1985 to 1994, New York Times says

  • ASSOCIATED PRESS

    President Donald Trump and First lady Melania Trump, left, smile during a one year anniversary event for her Be Best initiative in the Rose Garden of the White House today in Washington.

WASHINGTON >> The New York Times reported today that Donald Trump’s businesses lost more than $1 billion from 1985 to 1994, based on tax information the newspaper acquired.

The Times said it has acquired printouts from the future president’s official IRS tax transcripts, including figures from his federal tax form.

The newspaper said Trump reported business losses of $46.1 million in 1985, and a total of $1.17 billion in losses for the 10-year period.

After comparing Trump’s information with that of other “high-income earners,” the Times concluded that Trump “appears to have lost more money than nearly any other individual American taxpayer.” Because of his business losses, the newspaper reported, Trump did not pay income taxes for eight of the 10 years.

The House Ways and Means Committee has asked the IRS to provide Trump’s personal and business returns for 2013 through 2018. Treasury Secretary Steven Mnuchin on Monday refused to do so, saying the panel’s request “lacks a legitimate legislative purpose.”

Mnuchin’s move, which had been expected, is likely to set a legal battle into motion. The chief options available to Democrats are to subpoena the IRS for the returns or to file a lawsuit.

Trump is the first president since Watergate to decline to make his tax returns public.

Click here to see our full coverage of the coronavirus outbreak. Submit your coronavirus news tip.

Be the first to know
Get web push notifications from Star-Advertiser when the next breaking story happens — it's FREE! You just need a supported web browser.
Subscribe for this feature
Comments (63)

By participating in online discussions you acknowledge that you have agreed to the Terms of Service. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. If your comments are inappropriate, you may be banned from posting. Report comments if you believe they do not follow our guidelines.

Having trouble with comments? Learn more here.

Scroll Up