Supreme Court rules president cannot block subpoenas for financial records

In a history-making decision, the Supreme Court ruled that President Trump is not immune from criminal investigation.
4:31 | 07/09/20

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Transcript for Supreme Court rules president cannot block subpoenas for financial records
Good morning Rick I'm here right Allen breaking news from the Supreme Court in its final decisions of the term the Supreme Court in 4272. Majorities of opinions written by the Chief Justice John Roberts. Has decided that the Manhattan district attorney Cyrus Vance and congress. They both eventually get access to present trans financial records and tax returns but not before. New arguments in district courts which could delay the eventual release of those documents what we're gonna bring in our team right now Terry Moran. I was taking a look at these first decisions let's talk about Cyrus fans first the Manhattan district attorney who subpoena president transfer financial records with the court has decided sweeping league. Is it a president does not have absent immunity from these kind of grand jury proceedings. Exactly that's the headline first unanimous Supreme Court says no president is above the law they have to answer subpoena. From our local prosecutor that's at 90 holding just as it wasn't Clinton vs Jones Bill Clinton's court case and Nixon. Vs Jaworski that Watergate case. What's different here is dead in the opinion by Chief Justice John Roberts he does want the lower court to take a closer look. At how these subpoenas by Cyrus Vance might impact the performance of the president's duty. Does the president claimed absolute amusingly immunity president trump said I don't have to answer subpoenas while I'm president the court unanimously rejected that. The cautious just a chief Justice Roberts said. Take another look at these subpoenas. Under guidelines that take make sure they aren't interfering with the performance of the president's duties so big win in the abstract. But more litigation and I'm and meantime Conger house also will have to go back if they want to subpoena the president of the president's financial firm they czarist. For those financial records as well. That's what that's right once again the court rejecting president Trump's assertions I don't have to answer these subpoenas at all. But chief Justice Roberts a little tougher on the house of our present is on those democratic led committees in the house that subpoenaed to trump financial records saying yeah let's make sure. That since it's a House of Representatives. That separation of powers issues aren't here that the house isn't trying to interfere harassed the president. By going after his personal. Records that house candidate can demonstrate a legislative purpose. Go and have these subpoenas affirmed. But he wants them to take a closer look as well but these are the let's make no mistake about it. Big defeat for president Trump's claim that he is immune while president from ordinary subpoenas by state courts. Or by the House of Representatives. And it is nip it without question the defeat. For president trump no present above the laws what courts can -- Supreme Court in a significantly written by the Chief Justice both of president trumps appointees. Voted with the majority. I think entrench herself you know dean and Kerry just said the last two big speeches. Regarding whether the president is above the law was unanimous decision but I think we were all this speech that we thought Robert would have the opinion but wouldn't be 54 opinion it would be attract a broader majority and these headed to yeah information but the principle that the pregnant in objective some ordinary legal process. Aren't significant statement not insignificant that unanimous. But certainly hard to to describe these direction. Don't narrow part of indications of just a little junkets and John Roberts when you have mile course which Brett Cavanaugh at least in part agreeing with the proposition that congress and local prosecutors. Are entitled to inquire into the president. Activities and they actually eventually get to document that they ever. And to see if they are seen what does course went as a practical matter though the president may get beyond the election because both these cases now going back to district court's. And that is the big headline as it relates to voters in this country George they went to the polls in 2016 without understanding a full understanding. President Trump's financial records he's the only president in modern history to not release his tax returns you'll remember that. He has said that he did not want them out there while he was under audit and it appears again and again as these cases have been kicked down to lower courts. That voters will likely head to the polls again this November without having that full comprehension of what his financial. Documents entail but again a big headline out of this George those two Supreme Court picks president trumps. Both voting against the president are that we're ruling against the president on these decisions to turn over. His tax documents we are still waiting from word from the White House I imagine will be getting a tweet any minute torsion. The headline no president is above the law no president has absolute immunity from grand jury proceedings to 72 decisions from the Supreme Court of the United States in their final decisions of this term. Led by Chief Justice John Roberts.

This transcript has been automatically generated and may not be 100% accurate.

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