(RepublicanInformer.com)- The New York Times published what could be a potentially damning story to President Donald Trump’s re-election hopes.
Their initial story, published Sunday, said Trump paid only $750 in federal income taxes in both 2016 and 2017. The paper also reported the president hasn’t paid any income taxes for 10 of the last 15 years because he’s reported significant losses on his tax returns.
The Internal Revenue Service is also apparently embroiled in a 10-year-long audit of Trump and his finances. This audit is specifically over a tax refund of $72.9 million he received. In the end, that refund could cost Trump more than $100 million, the Times reported.
According to the Times’ report, loans that total more than $300 million are to come due over the next few years, and the president is personally responsible for re-paying them.
The Times has said that it will publish additional stories based on the tax documents the paper has received. The documents cover more than 20 years, some of which cover his years as president. The tax documents do not cover Trump’s 2018 or 2019 tax returns.
On Sunday, Trump struck back, saying the Times’ story was “totally fake news” and “make up.”
Trump was asked directly at a news conference Sunday about the federal taxes he paid, and he responded that he “paid a lot of money in state” taxes in that time.
The president took to Twitter Monday morning to lash out further against the Times and its report. He said the Times’ information was “illegally obtained,” and he “paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits.”
He further wrote:
“Also, if you look at the extraordinary assets owned by me, which the Fake News hasn’t, I am extremely under leveraged — I have very little debt compared to the value of assets. Much of this information is already on file, but I have long said that I may release … Financial Statements, from the time I announced I was going to run for President, showing all properties, assets and debts. It is a very IMPRESSIVE Statement, and also shows that I am the only President on record to give up my yearly $400,000 plus Presidential Salary!”
In a statement, Tim Murtaugh, the communications director for the Trump re-election campaign, said:
“This is a big nothingburger and a pre-debate attack intended solely to help Joe Biden. It ought to be reported as an in-kind contribution to the Biden campaign.”
While Democrats tried to hurl insults and attacks on Trump following this report, Trump again said he’d make all his taxes public once the IRS audit is complete. This is something he has promised from the very start of his campaign back in 2016.
Alan Garten, a lawyer for the Trump Organization, told NBC News in a statement that the Times’ story was “riddled with gross inaccuracies. Over the past decade, the President has paid tens of millions of dollars in personal taxes to the federal government.”