In a history-making decision on Thursday, the Supreme Court ruled President Donald Trump cannot block a subpoena for his financial records sought by a New York prosecutor, ruling he is not immune from criminal investigation.The decision is a major legal defeat for President Trump, although it is highly unlikely the public will see the president's tax returns or financial records before Election Day.In the most recent time Chief Justice John Roberts has sided with the court's liberal side in a high-profile case, he wrote for the 7-2 majority, "Article II and the Supremacy Clause do not categorically preclude, or require a heightened standard for, the issuance of a state criminal subpoena to a sitting President."The majority rejected the president's claims of absolute immunity from criminal investigative process and affirms the ability of the Manhattan DA to subpoena he president's financial records -- but the court returns the matter back to a lower court for further proceedings to allow the president to "raise further arguments as appropriate."MORE: Chief Justice John Roberts injured head in fall during walk, Court saysPresident Donald Trump walks on the South Lawn after arriving on Marine One at the White House in Washington, June 25, 2020.President Donald Trump walks on the South Lawn after arriving on Marine One at the White House in Washington, June 25, 2020.undefined Alex Brandon/AP, FILE
"Two hundred years ago, a great jurist of our Court established that no citizen, not even the President, is categorically above the common duty to produce evidence when called upon in a criminal proceeding. We reaffirm that principle today and hold that the President is neither absolutely immune from state criminal subpoenas seeking his private papers nor entitled to a heightened standard of need," Roberts wrote.Trump tweeted shortly after the decision was revealed that the matter is a "political prosecution."Manhattan District Attorney Cyrus Vance is seeking multiple years of documents as part of their respective investigations into potential wrongdoing by Trump prior to his presidency.In the cases of Trump v. Mazars USA LLP and Trump v. Deutsche Bank AG & Capital One, House committees subpoenaed a sweeping array of Trump personal and business records predating his time in the White House, including bank statements, engagement letters, personal checks, loan applications and tax returns. They say the information is critical to drafting of federal ethics laws, anti-corruption legislation and campaign finance rules involving presidents.MORE: With pivotal votes, Chief Justice John Roberts confounds conservatives and liberals
In Trump v. Manhattan District Attorney Cyrus Vance, Vance says 10 years of Trump's tax returns are legitimately sought by a grand jury in a probe that involves possible violations of state tax law.A pedestrian holding an umbrella walks along First Street, as a series of rulings are issued at the United States Supreme Court in Washington, July 6, 2020.A pedestrian holding an umbrella walks along First Street, as a series of rulings are issued at the United States Supreme Court in Washington, July 6, 2020.undefined Tom Brenner/Reuters, FILE
During oral arguments in May, there was broad concern among justices about the potential for "harassment" of a president but also skepticism of claims that a president enjoys "absolute immunity."MORE: Supreme Court justices raise concern about 'harassment' by subpoenas for Trump taxes, financial records
When Trump's personal accounting firm and three financial institutions used by him and his business were initially subpoenaed for the information, Trump intervened to block the third parties from complying.He has lost at every level in lower federal courts.Trump is the only modern American president to have not publicly released tax returns or divest from major business interests while in office.This is a developing story. Please check back for updates.
Source : abcnews.go.com
Source : abcnews.go.com