'TRUMP Act' would require public release of Trump's tax returns

A new bill in New York would require the release President Trump's tax returns online.

The legislation, proposed by New York state senators, is called the Tax Returns Uniformly Made Public (TRUMP) Act.

According to CNN, the state would be obligated to post the state tax returns of those elected to federal or state office online for the public.

Yet it only extends to those elected to office in a statewide election.

That means it wouldn't apply to New York's state representatives and senators, but both the president and vice president would be subject to this law.

Democratic Senator Brad Hoylman, who sponsored the bill, tells CNN, "The tax experts I've spoken to think we'll get a good snapshot of what's on his federal form."

He was inspired by an op-ed in the Washington Post by a University of Chicago law professor, suggesting publishing his state tax returns would likely be a quicker and easier route than a plan involving the disclosure of his federal tax returns.

With Congress turning to tax reform, Hoylman is doubling down on the importance of releasing Trump's taxes.

Hoylman has also introduced another bill mandating that anyone on a statewide ballot in New York would have to release their federal tax returns themselves.