Supreme Court to Decide if Trump Can Block Release of Tax Records

What happens if Mr. Trump loses?

The accounting firm and the banks have indicated that they will comply with the subpoenas. Had the subpoenas sought evidence from the president himself, there was at least a possibility that he would try to defy a ruling against him, prompting a constitutional crisis.

What information do the House committees seek?

The House Oversight and Reform Committee is investigating hush-money payments to a pornographic film actress and whether Mr. Trump inflated and deflated descriptions of his assets on financial statements to obtain loans and to reduce his taxes. The House Financial Services and Intelligence Committees have sought an array of financial records related to the president, his companies and his family.

What have Mr. Trump’s lawyers said?

They contend that the committees have no legitimate need for the information.

What is the House’s response?

Lawyers for the House say the information is needed to allow it to conduct oversight and to draft legislation.

What information does Mr. Vance seek?

He wants eight years of business and personal tax records in connection with an investigation of the role that Mr. Trump and the Trump Organization played in hush-money payments made in the run-up to the 2016 election. Mr. Trump and his company reimbursed Michael D. Cohen, the president’s former lawyer and fixer, for payments made to the actress, Stormy Daniels, who said that she had an affair with Mr. Trump.

What have Mr. Trump’s lawyers said?

They contend that he is absolutely immune from criminal investigations while he is in office. They add that allowing state and local officials to subpoena sitting presidents could subject them to politically motivated harassment.