President Trump’s drive to block subpoenas for his personal financial records faces a key test today in the Supreme Court
President Donald Trump’s drive to block subpoenas for his personal financial records faces a key test Tuesday as the Supreme Court hears arguments in a set of cases that could radically reshape the powers of Congress and state prosecutors to probe a president’s business affairs.
So far, the courts have agreed that a broad interest in government oversight and the possibility of changes to mundane legislation like financial disclosure laws is enough to justify congressional subpoenas — and that history has shown this was the precise intent of the framers of the Constitution. Last September, Trump sued Vance to try to block grand jury subpoenas seeking eight years of his tax returns as part of an investigation into alleged fraud by the Trump Organization and other matters.
Vance and the president’s critics have argued that the stance taken by Trump’s lawyers would not only put him beyond the reach of criminal law enforcement while in office, but could also amount to a free pass for any of his associates who might have committed crimes. If the justices uphold the New York subpoenas, Trump’s tax records wouldn’t immediately be made public because they’d be subject to grand jury secrecy. But they could emerge if Vance files criminal charges against Trump or someone else.
Once they secured committee gavels last year, House Financial Services Chairwoman Maxine Waters and House Intelligence Chair Adam Schiff wasted little time organizing investigations into Trump's relationship with the German lender, which lent Trump hundreds of millions of dollars over the years for property development ventures. The bank is also under scrutiny for alleged ties to Russian money laundering.
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