By Jessica Gresko

In a significant defeat for former President Donald Trump, the Supreme Court on Monday declined to step in to halt the turnover of his tax records to a New York state prosecutor.

The court’s action is the apparent culmination of a lengthy legal battle that had already reached the high court once before.

Trump’s tax records are not supposed to become public as part of prosecutors' criminal investigation, but the high court’s action is a blow to Trump because he has long fought on so many fronts to keep his tax records shielded from view. The ongoing investigation that the records are part of could also become an issue for Trump in his life after the presidency. Trump has called it “a fishing expedition” and “a continuation of the witch hunt — the greatest witch hunt in history.”

The Supreme Court waited months to act in the case. The last of the written briefs in the case was filed Oct. 19. But a court that includes three Trump appointees waited through the election, Trump’s challenge to his defeat and a month after Trump left office before issuing its order.

The court offered no explanation for the delay, and the legal issue before the justices did not involve whether Trump was due any special deference because he was president.

The court’s order is a win for Manhattan District Attorney Cyrus Vance Jr., who has been seeking Trump’s tax records since 2019 as part of an investigation. Vance, a Democrat, had subpoenaed the records from the Mazars accounting firm that has long done work for Trump and his businesses. Mazars has said it would comply with the subpoena, but Trump, a Republican, sued to block the records’ release.

Vance’s office had said it would be free to enforce the subpoena and obtain the records in the event the Supreme Court declined to step in and halt the records’ turnover, but it was unclear when that might happen. In a three-word statement, Vance on Monday said only: “The work continues.”

Representatives for Trump did not immediately respond to a request for comment.

The case the high court ruled in involves a grand jury subpoena for more than eight years of Trump’s personal and corporate tax records. Vance has disclosed little about what prompted him to request the records. In one court filing last year, however, prosecutors said they were justified in demanding the records because of public reports of “possibly extensive and protracted criminal conduct at the Trump Organization.”

Part of the probe involves payments to two women — porn actress Stormy Daniels and model Karen McDougal — to keep them quiet during the 2016 presidential campaign about alleged extramarital affairs with Trump. Trump has denied the affairs.

In July, the justices in a 7-2 ruling rejected Trump’s argument that the president is immune from investigation while he holds office or that a prosecutor must show a greater need than normal to obtain the tax records.

Justices Neil Gorsuch and Brett Kavanaugh, whom Trump nominated to the high court, joined that decision. It was issued before Trump’s third nominee, Justice Amy Coney Barrett, replaced the late Justice Ruth Bader Ginsburg on the court.

As part of its July decision, the high court returned the Vance case and a similar case involving records sought by Congress to lower courts. And the court prevented the records from being turned over while the cases proceeded.

Since the high court’s ruling, in the Vance case, Trump’s attorneys made additional arguments that his tax records should not be turned over, but they lost again in federal court in New York and on appeal. It was those rulings that Trump had sought to put on hold.

___

Associated Press reporter Jill Colvin contributed to this report.

Updated on February 22, 2021, at 11:36 a.m. ET with the latest details.

Share:
More In Politics
SAFE Banking Act to Help Legal Cannabis Operators Still Faces Senate Obstacles
Cheddar's Chloe Aiello joined "Closing Bell" to break down the progress of the SAFE Banking Act in Congress as cannabis businesses operators struggle to find financial institutions that will service them. Banks face steep federal penalties, including the risk of losing a bank charter, if found to be servicing marijuana businesses even if their state has legalized operations. Aiello reported that while there was some bipartisan support for the measure in the Senate, the bill faces some opposition from conservatives with "longstanding concerns" about cannabis and progressives who prefer a more comprehensive approach to reform.
DiDi Delisting Could Signal Forced Decoupling of China-U.S. in Financial Markets
Chinese regulators are reportedly behind China-based ride-hailing company DiDi exiting from the New York Stock Exchange, just days after listing earlier this year. The regulators stated prior that DiDi had not received the necessary clearances to list in the states. Gordon Chang, Asian affairs expert, joined Cheddar to break down what the delisting says about the relationship between nations. "This really strikes me as an attempt to really to force a decoupling of China and the U.S. in the financial markets," Chang said.
Futures Point to Higher Open Despite Jobs Miss, Omicron Spread
U.S. Futures were pointing to a higher open to round out the week despite a miss on the November Jobs Report, which showed slower job growth than expected-- and as the omicron variant continues to spread across the country. Patrick Healey, Founder & President at Caliber Financial Partners joined Cheddar's Opening Bell to discuss.
World Starts Talks On Global Pandemic Plan
Just days after the detection of the Omicron variant, the World Health Organization has agreed to start the process of establishing a global pandemic treaty or accord. Amy Maxmen, senior reporter for Nature, and Dr. Samuel Scarpino, managing director for the Rockefeller Foundation's Pandemic Prevention Institute, joined Cheddar to discuss this effort and what lessons can be learned from the many COVID-19 failures as the world prepares for future pandemics.
U.S. Adds Disappointing 210,000 New Jobs In November
It's a mixed bag for the November jobs report. Hiring slowed last month as employers only added 210,000 jobs, massively missing the estimate of 550,000. But there was one bright spot: the unemployment rate fell to 4.2%, with the number of unemployed people dropping to 6.9 million. Both of those numbers are considerably down from their highs at the end of the 2020 recession. Heather Boushey, a member of President Biden's Council of Economic Advisers, joined Cheddar to discuss the report and the state of the country's ongoing economic recovery.
Load More