Trump’s reported large debt load raises ‘nationwide safety query,’ Pelosi says
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“This president seems to have over $400 million in debt … To whom? Totally different nations? What’s the leverage they’ve? So for me, this can be a nationwide safety query,” Pelosi stated within the interview.
Pelosi’s remarks come after The New York Occasions printed a groundbreaking report Sunday claiming Trump has $421 million of debt coming due quickly along with an impressive audit battle with the Inner Income Service over a $72.9 million tax refund he beforehand acquired.
The report stated Trump paid $750 in federal earnings taxes the yr he received the presidency and through his first yr in workplace. Trump paid no earnings taxes in 10 of the earlier 15 years, the Occasions reported based mostly on paperwork the outlet stated it obtained from sources with authorized entry to the data.
CNBC has not seen the paperwork reviewed by the Occasions. Trump Group legal professional Alan Garten advised the Occasions in a press release that “most, if not all, of the info” reported seemed to be inaccurate. Trump known as the report “faux information” at a press convention following publication.
The Occasions’ report discovered no new connections to Russia, although Trump’s enterprise dealings with different nations have been a subject of hypothesis since his candidacy.
Nonetheless, the report discovered Trump’s companies paid far more to different nations than he paid in federal earnings taxes, together with $145,400 in India and $156,824 within the Philippines in 2017.
Pelosi known as it “unusual” that Trump paid far more to different governments than to his personal in the identical yr.
Trump’s tax returns have been the topic of authorized battles and hypothesis for the reason that president broke the longstanding custom of presidential candidates releasing private monetary statements.
Trump constructed his political model as a businessman who might negotiate favorable offers, although the Occasions report appears to verify opponents’ suspicions that the president took on large debt to construct his empire.
Trump is in a reelection battle in opposition to Democratic nominee Joe Biden. Early voting has begun, and Election Day is in 36 days.
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WATCH: President Trump dismisses a New York Occasions report alleging years of tax avoidance