Baldwin cosponsors bill requiring presidential nominees to release tax returns

U.S. Sen. Tammy Baldwin, D-Wis., is co-sponsoring legislation introduced by Democrat Ron Wyden of Oregon directing presidential nominees to release recent tax returns in order to give the public honest insights into the candidate’s actions and values.

The bill is the Presidential Tax Transparency Act and it would require that, within 15 days of becoming the nominee at a party convention, a candidate must release his or her most recent three years of tax returns to the Federal Election Commission.

Should the candidate refuse to comply, the treasury secretary would provide the tax returns to the FEC for public release.

Republican presidential candidate Donald Trump has refused to release his returns, despite repeated calls from his political rivals and the news media.

Baldwin, in a statement, said, “Wisconsin has a strong tradition of supporting open government, transparency and accountability. For nearly 40 years presidential candidates from major political parties have respected this tradition and voluntarily released tax returns during the campaign.”

She continued, “I believe this legislation will strengthen the public’s right to know and prevent candidates for commander in chief from keeping their finances and personal tax returns in the dark.”

A one-page summary of the Presidential Tax Transparency Act is available here.

The bill text is available here.