Nancy Pelosi, a top-rank democrat politician and the speaker of the House of Representatives, has said the evasion of taxes by President Trump is a national security issue on Monday. She further asked whether Trump owed money to foreign interests.
The article accused the President of paying only 750 dollars in federal income taxes in 2016 and 2017. However, in response, Trump has called this fake news. While speaking to a local news channel, Pelosi said that the recent report by the Times reveals that President has nearly 400 million dollars in foreign debt.
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She raised many more questions regarding the leverage different lenders from foreign countries have and said that this is a question of national security for her. Pelosi added that a sitting president owes hundreds of millions of dollars that he has personally guaranteed to lenders, who remain unknown. She further added that it suggests that he is also indebted to Russian President, Vladimir Putin.
The report by The New York Times – which claims to have obtained President’s tax returns of the past 10 to 15 years – also claims that he paid no taxes at all in the last decade. It further added that Trump is personally responsible for nearly 300 million dollars in debt, which will come due in the next four years.
However, the article did not suggest that he received any unknown income from Russia, though it said that the President had earned some money in the past from foreign sources. It further says that Trump’s tax records reveal years of tax avoidance and chronic losses.
On Monday, Trump took to Twitter and accused the news channels of bringing up his taxes and other things with illegally obtained records. He not only refuted the claims by The Times but said that he had paid millions in taxes and received tax credits as well.
Meanwhile, responding to the allegations of massive personal debt, he added that he had a very little amount in the loan as compared to the value of his assets. After refusing to share documents concerning his business and fortune, Trump faced several legal challenges. Since the 1970s, he is the leader of the country not to make his tax returns public, however, it is not required by law.
The New York Times said that the data was provided by a source with legal access to the records. The report came just three weeks ahead of the upcoming presidential election and days ahead of the first presidential debate between the incumbent President Trump and his Democratic rival, Joe Biden.
