Supreme Court grants emergency stay blocking subpoena for Trump tax returns

The Supreme Court on Monday granted an emergency stay blocking Congress from enforcing a subpoena for President Trump's financial records, which a lower court had upheld in October.

Why it matters: The court didn't explain its reasoning, but the decision makes it likely that it will take up the case. For now, Trump's longtime accounting firm Mazars USA will not be forced to turn over Trump's tax returns to House Democrats investigating the president.

• The justices are giving Trump's lawyers until Dec. 5 to formally file its appeal of the lower court ruling.
• Trump is also seeking to have the Supreme Court block a subpoena from the Manhattan district attorney's office, which is investigating hush-money payments that the Trump Organization made to Stormy Daniels in 2016.

Between the lines: A Supreme Court ruling on the case would likely not come until mid-January, AP notes. If House Democrats are planning to vote to impeach Trump by the end of the year, as they have signaled, the tax return investigation will likely not play a role.

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