Trump businesses lost nearly $1.2 billion over a decade: report

The New York Times analyzed the president's IRS documents from 1985 to 1994.
2:24 | 05/08/19

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Transcript for Trump businesses lost nearly $1.2 billion over a decade: report
As you know tensions are mount seeing between congressional Democrats and president trump over the disclosure of this federal tax returns I want to bring in Karen Travers at the White House. Uncaring can you just give us an idea what's going on with this because a New York Times just reported that they released. They obtained. A decade's worth of his tax returns what do we know. Yet this was tax documents financial records of the president from the mid 1980s to the mid 1990s. And the New York Times obtained in was able. To put together a pretty compelling story in today's newspaper this of course comes as you say. As congressional Democrats are trying to get the president's more recent tax returns so we should note. That what the New York Times is reporting on is not the same time period that congressional Democrats are the Democrats are going after and what Treasury Secretary Steve in the nation has several times now refuse to turn over so what we're looking at here in the New York Times is information of the time says. Shows that the president reported losses of more than a billion dollars during that decade they say in fact that. He lost more money than nearly any other tax filer in this country during that same time period. The president has surprise reacting on Twitter where he tends to do a lot of his reacting to major stories. He defended and downplayed the practice of real estate developers like himself reporting losses he wrote Kimberly it was sports. Our right and I am I'm just curious I mean this information coming out in the New York Times and if their taxes are eventually the tax returns are eventually released. You think it's a really going to change people's opinions. Of him. Yeah I think that's an important thing here you have people who. If you followed his career over the past several decades knew the types of business situations he was in you the trouble he had especially in places like Atlantic City and some of his real estate development in new York and use that teetered decide to vote against him or. They didn't know about that in and they really did consider him to be a good businessman and that's the reason they voted for him. And his promises us coming in as a businessman and fixing the economy. We've seen stories before about the president's tax and finance is we've seen some of the stories about his business practices. I don't know if this is gonna move the dial in any way the president has repeatedly said. Not turning over any tax information those years the Democrats want because he's under audit. All right Karen thank you so much we appreciate that.

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

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