Cuomo signs law allowing New York to hand over Trump's taxes

ALBANY — Gov. Andrew Cuomo signed a law Monday authorizing the release of state tax returns to a handful of congressional committees, opening a new avenue for Democrats to get their hands on some of President Donald Trump’s closely guarded finances.

“Tax secrecy is paramount — the exception being for bonafide investigative and law enforcement purposes," Cuomo said in a release. "By amending the law enforcement exception in New York State tax code to include Congressional tax-related committees, this bill gives Congress the ability to fulfill its Constitutional responsibilities, strengthen our democratic system and ensure that no one is above the law."

The law allows the state Department of Taxation and Finance to share returns of top federal, state or local government officials — though not private citizens — with three congressional committees that have jurisdiction over tax matters at the request of their respective chair.

Proponents of the new law argue that because Trump has been a lifelong New Yorker, his state return would largely mirror the federal tax documents he has thus far shielded from public view. The law excludes information directly shared by the IRS on state forms, such as itemized income, to comply with federal confidentiality rules as well as other privacy protections for social security numbers and a person’s home address.

Read more: https://www.politico.com/states/new-york/albany/story/2019/07/08/cuomo-signs-law-allowing-new-york-to-hand-over-trumps-taxes-1087835