5/17, 10:17 PM (Source: TeleTrader)
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Mnuchin says will not comply with Trump tax return subpoena

United States Treasury Secretary Steven Mnuchin will not comply with a House Democrat subpoena requesting six years' worth of President Donald Trump's tax returns, media reported on Friday.

In a letter to House Ways and Means Committee Chairman Richard Neal, Mnuchin stated that the Treasury Department, in reliance on the Department of Justice's advice, determined that that committee's request lacked a "legitimate legislative purpose" and that it was therefore not authorized to provide the requested returns or any return information. He added that it was unable to provide the requested information in response to the committee's subpoena for the same reasons. The deadline for the Treasury Department's response was due to expire at 5 pm ET.

Mnuchin previously hinted that he would not comply with the subpoena. The committee issued him and Internal Revenue Service (IRS) Commissioner Charles Rettig with the subpoenas for Trump's tax returns last week.

Breaking the News / DZ