Audio Sources - Full Text Articles

Trump asks for — and receives — a 45-day extension for disclosing his personal finances

Donald Trump smileFormer President Donald Trump speaks during the America First Agenda Summit, at the Marriott Marquis hotel July 26, 2022 in Washington, DC.

Drew Angerer/Getty Images

  • Trump delayed the release of a personal financial disclosure required by law for presidential candidates.
  • Trump may now wait another 45 days before releasing new details about his personal finances.
  • The former president could also request one more 45-day extension.

Former President Donald Trump has requested — and received — a 45-day extension on filing a mandatory personal financial disclosure that would offer new details about his wealth now that he’s again a presidential candidate.

“Due to the complexity of his finances and the need to obtain additional information from third parties, President Trump needs additional time to gather the necessary information and complete the report,” Compass Legal Group senior counsel Derek H. Ross wrote to the Federal Election Commission on Thursday.

“I have granted your request for a 45-day extension of time until January 29, 2023,” FEC Acting General Counsel Lisa Stevenson replied on Friday.

Trump announced his 2024 presidential run last month amid a swirl of legal peril. Federal law requires new presidential candidates to submit a certified personal financial disclosure within 30 days of becoming a candidate, but they may request up to two, 45-day extensions from federal regulators.

Trump letter to FECA letter from Donald Trump’s lawyer to the Federal Election Commission.

Federal Election Commission

Letter from FEC to Trump lawyerA letter from the Federal Election Commission to an attorney for Donald Trump.

Federal Election Commission

Presidential personal financial disclosures include information about a candidate’s income, assets, debt, and royalties.

Trump’s disclosures as the nation’s 45th president were particularly intriguing given his sprawling business interests that frequently intersected — and conflicted — with his public duties. Earlier this month, a trial jury in New York City found the Trump Organization guilty on all counts of tax fraud. 

Personal financial disclosures of this sort are different from personal tax returns and, generally, contain fewer details.

Trump for years has refused to publicly release his tax returns, breaking with presidential precedent. But after a years-long legal battle, the Democrat-controlled US House is now in possession of those records and could potentially release them before Republicans assume power in January.

Read the original article on Business Insider