the chairman richard neil has released a statement. what does it say? >> reporter: neil is trying to preempt any arguments that this was too quick moving, that this was part of a political ploy to release and embarrass the former president and that this could be a slippery slope for taxpayers moving forward, that everyone should be afraid about their tax information being released to the public. i want to read what richard neil says preempting that. he said a president is no ordinary taxpayer. they hold power and influence unlike any other american and with great power comes even greater responsibility. like abby was saying earlier, some of the things we might be able to look at in these tax returns are what kind of charitable donations the former president made as well as any foreign entanglements he might have had. that is why part of the precedent of releasing the tax returns on the campaign trail is so important, because voters get to make a decision. when they have all the information they can look at everything and make a decision about whether tha

i want to ply as promised this is richard neil, chairman of house ways and means. this is april of 2019 talking about what is now come to fruition. let's watch. >> you cannot summarily or arbitrarily just release the tax forms if one were to receive them that is a clear violation of federal law, so that's why i think it would be a good idea to have professor amounts who are nonpartisan to review the forms and then the ways and means committee would have the opportunity at that point to decide through an up -or-down vote with full transparency whether they ought to be released to the american people. >> does that make sense? >> he's correct in saying we, the ways and means committee, have to keep them confidential and offers this creative solution of let's bring in outsiders to give us a thumb's up or thumb's down. even if you take it as a given he should have disclosed it, there was no law. if they want to pass the law, god bless. the law says that only under very narrow circumstances can ways and means get these tax returns. they are very valuable, private, confid

richard neil argued it was nonexistent. the irs did not review trump's returns until 2019 when richard neil sent a request for trump's taxes arguing he needed them because he wanted to see if the program was working. the argument from democrats is this program was not acting as it was supposed to and as part of the effort to shore it up, they are revealing they're going to move forward with some kind of legislation, nancy pelosi vowing she's going to try to advance it in upcoming days, but there's a couple days left of the session in a couple weeks the republicans are going to gain control of the house of representatives. and there's no way to pass in the senate even if the house could have a vote in the next couple days. >> i'm interested in his payment history. it shows what he has generated huge net operating losses and carried them forward for years afterward to zero out his tax liability. what is the deal here? some years he paid nothing. and people may be surprised to see how little taxes he paid. >> reporter: we're g

it wasn't even until april of 2019, when the chairman of our committee, richard neil, sent the letterto the irs, to the treasury department, asking for these returns under section 61 of the tax code. it wasn't all that very day that the first of these returns were flagged for audit. they had simply failed to do that at all. and they never completed any of the so-called mandatory audit of the president of the united states during president trump's term of office, during his tenure as president, the mandatory reporting, or mandatory auditing requirements under the irs code book, under their internal rules was completely avoided. >> i find that stunning to think that that could have been the case. and just the idea, and again, you talk about some of the criticism of the wind now and the idea, is there really a legitimate legislative purpose here? there is the statements by some republicans that this was all pretextual. that hold on, a lame duck congress essentially wanting these, which is not true. it's been years in the making, number one. but the idea you described sounds to me like th

we told you that richard neil would succeed. it would go to 2015 in 2020. neil has obtained them, they're gonna make it public by the end of this week. once the committee staff has completed redacting the social security numbers, bank account numbers and other details that should not be public. o'neill demanded the tax returns under a law that allows the means committee and the chairman of the senate finance committee, those the two tax writing committee to obtain coffees it any tough to terms. instead it took a three year court battle to force simple compliance with a very simple law. at the beginning of this court battle, assured you that the law would prevail. rich o'neil would get the tax return. anyone who knows the law knows that there's no they're out but to the case. they want to monitor how well the irs was doing on the mandatory auditing of presidents and tax returns. all tax returns for the vice president of united states was supposed to be automatically audit. the most scandalous revelation so far and what o'neill has announced is that the irs co

we told you that richard neil would succeed. he would go get down trump's tax returns from 2015 to 2020. neil has obtained them, they're gonna make it public by the end of this week. once the committee staff has completed redacting the social security numbers, bank account numbers and other details that should not be public. chairman neal demanded the tax returns from the irs under a law that allows the means committee and the chairman of the senate finance committee, those the two tax writing committee to obtain copies of any tax returns they requested anytime. the irs should have handed over donald trump's tax returns in three days. instead, it took a three year court battle to force simple compliance with a very simple law. at the beginning of this court basil, i showed you writer on this program that chairman neill and the law would prevail. and that richie neil would get the those tax returns. anyone who knows the law knows and how it has been applied knew that there was no other possible outcome to this case. from the start

that is something that republicans complain about in their press conference, prior to richard neil, and the ways and means committee unveiled. they weren't exactly sure what they were agreeing to hear, or not agreeing to in the case of the republicans. we know that they are going to release a report of some kind, about their investigation into trump's business and personal finance record as a releases presidency. and that they will be supporting documents attached to that. now, the assumption you can make is that those supporting documents will be these tax returns, but the committee is going to go through and redact certain aspects of it for personal information. -- addresses, for, number things along those lines. this is something that a lot of people have been waiting to see for quite some time. and there are a lot of questions that could be answered as a result of putting out this information. what kind of businessman was donald trump? was he really as successful as he said he was? did he pay all of the taxes that he should've paid if he were such a successful businessman? and then

the irs and in the -- handed those documents over to richard neil and company.e republicans take over the house on january 3rd. they will take over control of the ways and means committee and will really, you know, halt any sort of subpoena power. they will have the ability to set the agenda of the ways and means committee. this is really a pivotal moment for this committee. >> any sense, real quickly, in which it is pivoting right now, whether they will be releasing those records or not? >> i mean, there are members, including bill pass corral in new jersey, who are pushing very aggressively for the release of these tax filings. you know, it's possible that we could see a partial release or an executive summary of these tax filings. there really is a desire to -- on behalf of many of the democrats. scott wong, thank you for weighing in. we appreciate it. the steps being taken to honor one of the most remarkable artists in the world. ♪ ♪ keep it fresh with colorful cookware. whip up holiday treats with ease. slice and dice with the best of them. and with wayfair

that is when richard neil, chairman of the ways and means committee, a democrat, started to inquire aboutd trump's tax returns. they say at that point, that's when the irs audit program kicked into gear. they say it never was completed over the six years of returns that they ultimately obtained. now, there's a separate report by the joint committee on taxation analyzing those returns. it raises some questions about some of the deductions that donald trump took. suggested that perhaps more investigation might be warranted. it did not make a judgment one way or another. but it got into the numbers of his deductions, his losses, and the income he reported. but we expect a lot more, including all details of those tax returns in the days ahead. right now, the committee is trying to redact some of the sensitive security information, some of the confidential information like social security numbers and the like. once that is done, they will be released. and it will come out before democrats are no longer in power in the house. january 3rd is when republicans take over. republicans attacking demo

remember, when the ways and means chairman richard neil requested these documents back in 2019, he said he needed this information to understand how the presidential audit program worked. last week lawmakers had a closed door meeting in the ways and means committee to try to discuss what they wanted to do with these unlying returns. they voted. they decided along party lines to release them. but obviously a moment that republicans are calling unprecedented and coming just before democrats hand power over to the house republicans on tuesday. >> an incredibly important thing to remember. is this something we are going to see now, tit for tat in the future? lauren fox, we are standing by for 9:00 a.m. with that release. thank you. >>> this morning newly released transcripts show the house january 6th committee's interview with donald trump jr., the former president's son. they provide new context to a text that he sent to former white house chief of staff mark meadows right after the 2020 election. that text included a detailed plan from don jr. to try to keep his father in power for a sec

but in this case they say it was only conducted in the aftermath of richard neil, the chairman of the, making a request in 2019 to start to look into donald trump's tax returns. that's when the actual audit took place even though donald trump was president so from after the 2016 elections from 2017 all the way up to january of 2021. now, the committee goes onto say that in that investigation that the white house even in 2018, the white house press secretary contended that donald trump was under a mandatory presidential audit, but he was not at that time. now, they go into some -- concerns they have which was just a legislative response in fixing what they see are problems with this audit program. now, on the separate analysis over his tax returns we're still pouring through it. it's a very technical analysis looking at all the numbers that donald trump submitted in his tax returns. it gives a summary of these returns. it raises -- it says there are some issues that require further investigations like the number of deductions he took, charitable deductions, questioning whether they're

we know that richard neil put out a statement after this came out. of course he's the democrat. >> and he said congress serves as a check on the executive branchond our committee is entrusted with an over sight. a president is no ordinary taxpayer, they hold power and influence and with great power comes greater responsibility. and the important thing to note here is that trump said -- he broke an enormous amount of precedent when he became the first president in modern history not to release his taxes. this is something he chose to do. and on top of that. that is something that for decades he has shielded from the public. and one other thing i want i to quickly touch on is foreign entities and bank accounts. that is something that we're going through these additional documents for. does he have foreign bank accounts? are there any foreign owned businesses. that is important because you remember this was a big topic of conversation during his entire presidency so that is something we're looking at closely as we go through the hundreds of pages. >> we

>> yeah, i mean, the house ways and means committee chairman richard neil has had access to this for a number of weeks but what is important about today's meeting is it is an important for the committee to go behind closed doors and have a conversation about whether or not they are going to release some of this information or all of this information for that fact. and i think one of the things that tlar going to be weighing in the meeting is what the future looks like of the committee if they use this section of the tax code to reloose this information. we expect they will meet today at 3:00 and go into the closed-door session and then have that discussion. after that they will come out of the executive session and they will vote on whether or not to release this information. but it is a significant day. because it really could, if they release some of this information, shed light on the former president's taxes and whether or not he paid taxes and what years he paid taxes and they didn't just request the actual tax returns, they requested broader tax information, that means any note

was from 2017, and in early 2019 the democratic chairman of the house ways and means committee, richard neil in texas, formally asked the irs for trump's tax returns. as was the right of that chair under law. to be very clear, in the statute, the chair of the committee can ask for any tax return he wanted. he asked for it. but it took a while. house democrats were delayed. stymied by the first and foremost, the irs itself. led by trump appointee, charles, until october of this year. left a few months ago, interesting lee. they then fought a long legal battle that went up to the supreme court. with a lot of can kicking by various judges who delayed, the, lay delayed. and now, on the last working day of the year, with the clock ticking and just days remaining until republicans take back the house, control of the house. we finally have the data, the six years of returns. journalists and tax experts will be combing through the thousands of pages for days. so far, two big takeaways from all of this information. one, and this is reported actually, a day or two will four we actually got the insuran

richard neil had asked for these documents years ago. he had been em battled in a court fight for that information. they now have access to the president's tax information, but what they'll do with it remains to be seen. we'll get more information on tuesday after this meeting. >> lauren fox, there for us on capitol hill. keep us up to date, lauren. thank you. >>> federal investigators have obtained access to emails and other writings by republican congressman scott perry as part of the criminal investigation into january 6th. >> newly unsealed court documents revealed just how broadly federal prosecutors have been searching. cnn's katelyn to lants is with us. what are they looking for now beyond what they've already received? >> reporter: well, victor and bianna, we are learning basically from new court filings today about these investigative steps that were taken all the way back over the summer and into the fall. what we learned is that the investigators did a bunch of searches on email accounts, specifically the email accounts of thr

does show that congress could do it to any individual because congress can do it -- with chairman richard neilnd the snap of the committee has done is show that really the law does apply to the president and his relationship with the house at this point. they show that they had legitimate legislative purpose to show that the president was properly audited, as presidents are meant to be. i think when we started the segment talking about a way in which donald trump managed to run out the clock on the subpoena from the january six committee, this was a request for his tax returns from -- that did happen while the president, when he was not a private citizen and ran out the clock and run out the clock and, man, he almost got away with it on this one. we were weeks away from control of the committee changing hands, when they got the taxes for their use. >> i hear what you're saying about all of the, they got their hands on them, wanted to show the irs clearly have not heard properly, but why release them publicly? >> look, that's a question that the committee ought to defend in the coming days. i a

what the committee has done, chairman richard neil and the staff of committee have done is show really the law does apply to the president and his relationship with the house at this point. they show they had a legitimate legislative purpose to see if the president was properly audited as presidents are meant to be and i do think we started this segment talking about a point, a way in which donald trump managed to sort of run out the clock on the subpoena from the january 6th committee. this was a request for his tax returns from the ways and means committee that did happen while he was the president of the united states when he was not a private citizen and ran out the clock and ran out the clock and, man. he almost got away with it on this one too. weeks away from the committee changing hands when they got the taxes. >> why do they have to release them publicly? they got their hands on them and wanted to show the irs clearly had not audited properly but why release them publicly? >> that is a question the committee has to defend in the coming days. i am certainly not going to do thei

the "new york times" reporting this, richard neil said that when the committee had inquired about whyren't auditing trump, reddick said at different points that they were outgunned and that the irs said it lacked specialists capable of assessing mr. trump's filings. how can that be possible that they don't have experts on board at the irs to assess the former president's taxes. he's not the only one with complicated taxes. >> it is an upside down state of affairs. the irs has been starved of funds over the past few years and they are definitely underresourced to go after what they call the big guns, the people who have the very -- who are able to escape paying their fair share of taxes. that's what we want to remedy. that's why we did vote for the $80 billion for the irs to be able to conduct proper audits, not just low-income taxpayers which is what's going on right now. but indeed those big guns who actually have the resources and the expertise to be able to escape paying their fair share. but, of course, there was also the lack of will. they only assigned one agent to actually do t

should note, this is a years long court battle from the chairman of the ways and means committee richard neilents ago in a press conference that this clearly showed that a mandatory audit program which requires every president and vice president's tax returns to be reviewed by irs was not working properly. that was the whole crocks of why he requested these tax returns to begin with. he is arguing that they did not do the kind of scrutiny that they should have and therefore the ways and means committee is also going to move forward with some kind of legislation. we should know though, the republicans take control of the house in just a couple of weeks so there's just not much time, in fact no time to pass legislation up here. this is really going to be symbolic. >> so, the documents and the timeline you just laid out. is that everything that the ways and means committee they have in their hands? are they holding anything back? >> well, that is what i was just told from dan kildee who is a member on the committee. he said it is everything neil requested. they have to do some heavy redactions b

assigned to the mandatory tax audit and why they did not start the mandatory tax audit until chairman richard neile ways and means committee wrote a question about releasing the tax returns. in reality, there should have been a minimum, at least five agents assigned to this, and they should have had, amongst them, a foreign tax specialist, and financial product specialist. but this agent actually said that they didn't need the special list and he could handle it all and took the words of these accountants at face value, not questioning it. that is what is so apparently wrong in this process, and why we actually wrote legislation after we saw this to ensure that there is a mandatory tax audit that is reported on continuously to the public and where there are parameters for when they should be reported on and also where they would actually release the president's taxes. >> congresswoman, i think i remember reading some where this might be happening, but is an inspective spur inspector general review of how trump's taxes were both handled and investigated, to your point, only one agents assigned to t

congressman richard neil now in possession of trump's tax returns began waging this battle back in april019 about you supreme court's ruling, he said it rises above politics and committee will now conduct the over sight that we've sought for the last three and a half years. regarding the democrats finally gaining access to those tax returns, "the new york times" reports this, quote, at this stage the law that allows the chair to request a tax returns requires treating with confidentiality, details about any requests returns that could be associated with a particular taxpayer. that same law also allows committee to later publish the returns in the congressional record which could make them public. mr. neil has not announced whether he would do so. a member of neil's committee believes he should. here is congressman bill pass qual of new jersey. >> i want them all released. i think these records are so important. the delay has been as long as the civil war. i mean, this is unprecedented in every way. this is not about one man. this is not about just one part of the law. this is whether we

richard shelby. he criticized him, patrick leahy who's the chair of the appropriations committee, democrat, of course. this republican-on-republican violence is something we've really not seen. you can imagine that escalating next year. neilyou very, very much for that. we'll see what happens right now. chad pergram on those developments. now, a lot of republicans were saying for all the money we're providing not only in this measure, but certainly the 45 million tucked into this for ukraine, where is support for the border? well, it's in here, but it's maybe not mt. numbers that they thought. i want to get, dive into that with joe -- a city mayor. mayor, very good to have you. there are some provisions that call for hiring more at the border to deal with the migrant surge. it's already happening to say nothing of the big surge that's happening to the tune of about $3.5-4 million, allocations for temporary facilities and things like that to the tune of $7 billion. what do you think of all that? >> first of all, merry christmas, america. we are truly blessed to live in the greatest country in the world. and people the world over still believe that our great nation is the land of opportunity, the land of hope and prosperity

richard clarida of columbia. a paper was written on japanese deflation and it came down to asymmetric pressures that the bank of japan faced. to me, this is germane. neilwas heated about measuring the pressures. jonathan: we forget that these are human things condition by history and recent experience. you wonder how scarred they are of the dovish mistakes of the last 12 months and whether that shapes an approach where they are committed to being lights because they don't want to repeat that. they don't want a repeat of the 1970's where they back off too soon and inflation react seller's. -- re-inflates. tom: i think because back to the bank of japan 18 years ago go. they just cut to send. jonathan: the doj is talking about a policy review. tom: so is italy. went to they start their new effort? jonathan: why was this the appropriate time? tom: when do they start the new search for 2024? jonathan: coming up, terry haynes, this is bloomberg. ♪ lisa: keeping you up-to-date with news from around the world with the first word, i am lisa mateo. it could be a long legal battle to get sam bankman-fried back to the u.s. to face charges. he told a judge in the b

neil in person. at the piano. ♪♪ how much did broadway influence your writing as far as song writsing? >> well, my heroes were george gershwin, irving berlin, richard, the do-up. is very simple. >> right. >> doo-wop. but when you have a surprise card -- ♪ warmth of her hand in mine ♪ that's the emotional lift. >> tell me about the immigrant. we know the inspiration. but when did you decide i want to write a song not only about john lennon but my family and my idea of what america really is? >> i always thought that imgrants was the crux of america and felt it should be told in music and words. and phil cody, who wrote it with me, so i took the g to the a-minus 7. here it is. ♪ open their arms to the young searching foreigner ♪ >> oh, wow. yeah. ♪ come to live ♪ a few chords change the -- >> yeah. >> and of course the hook. ♪ there was a time when strangers were welcome here ♪ ♪ music would play they tell me the day was free and clear ♪ ♪ it was a sweeter tune and there was so much room ♪ ♪ that people would come from everywhere ♪ >> fantastic. >> then there's "breaking up is hard to do." should i tell you how i wrote it? >> tell me how you wrote it