Trump files its annual financial disclosure report, an overview of its assets and liabilities



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Trump lost $ 1 billion in a decade, report says

President Trump's tax returns may not be available any time soon, but his financial disclosure report will be available.

The President delivered his Annual Financial Disclosure Report to the Government Ethics Office on Wednesday, the federal body of ethics confirmed on Twitter. Wednesday marks the deadline for the President, Vice President and other senior officials in the industry to provide detailed information on revenues, assets and liabilities. Last year, it took a day for Trump's financial information to be posted on the Web after it was received by the Ethics Office.

The report is a window into Mr. Trump's personal financial situation, offering general information about income, assets and liabilities in ranges, but not specific dollar amounts. The report does not say whether Mr. Trump's businesses made any profits that year or the type of taxes paid by the president.

Last year, the 92-page report revealed the undisclosed refunds made to his former attorney and repairman, Michael Cohen, after the president's lawyer, Rudy Giuliani, acknowledged live on television that M Trump had repaid Mr. Cohen, while he was unaware that payments were being made. The disclosure was made as a footnote in a section on Mr. Trump's liabilities. The head of the Office of Government Ethics (OGE) reported this gap to the then Deputy Attorney General, Rod Rosenstein, in case it would be "relevant to any investigation you may be conducting".

The President's report from last year also shows that he is making significant revenue from his Trump International hotel, located a few blocks from the White House in Washington, DC, while the profits of many others Trump properties in the country are collapsing.

Mr. Trump did not give up his activities as many critics asked him to do, entrusting daily responsibilities to his sons Donald Trump Jr. and Eric Trump.

The president refused to publish his tax returns, which would give a more complete picture of the president's financial situation. The Treasury Department has denied a request from the chair of the House Ways and Means Committee, Richard Neal, to get the president's tax returns for the last six years.

The New York Times reported earlier this month that Mr. Trump lost more than a billion dollars a decade in the 1980s and 1990s. Citing printouts of IRS tax transcripts, the Times reported that Mr. Trump had lost about $ 1.17 billion between 1985 and 1994 as a result of his commercial activities involving casinos, hotels and residential properties.

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