Articles
'Hit job': Trump responds to New York Times story that he lost almost $1.2 billion over decade
Washington,
May 8, 2019
Tags:
Oversight
ABC News |
President Donald Trump is still fighting Congress over the release of his tax returns, but a new report on Tuesday analyzing his official Internal Revenue Service tax transcripts, with the figures from his federal tax forms, shows he lost over $1 billion from 1985 to 1994. The documents show Trump's businesses lost $1.17 billion over the 10 years, including $46.1 million in 1985 and hundreds of millions by the time of his much-publicized early-1990s financial collapse, according to a report in The New York Times, which acquired the tax documents. The president has often portrayed himself as having a "golden touch" in all businesses during the 1980s, before fighting back from serious financial debt -- due to struggles with his casino business -- in the 1990s. His infamous book, "The Art of the Deal," was released in 1987, right in the middle of the years covered in the tax documents. "Trump’s 1985-1994 tax data shows that he had no idea how to make a deal," Rep. Don Beyer, D-Va., tweeted. "In fact, to put it in terms appropriate to a former reality TV star, he was the biggest loser." |