Feb 28, 2019

Alexandria Ocasio-Cortez sets stage for Dems to go after Trump’s tax returns

Rep. Alexandria Ocasio-Cortez (D-N.Y.) listens to testimony by Michael Cohen, former attorney and fixer for President Trump. Photo: Alex Wong/Getty Images

Rep. Alexandria Ocasio-Cortez (D-N.Y.) and other Democrats used President Trump's former personal lawyer and fixer Michael Cohen's dramatic testimony to Congress Wednesday to lay legal groundwork for House Democratic leaders to pursue Trump’s tax returns, HuffPost reports.

The details: During her line of questioning, Cohen noted Trump had directed his deputies to inflate the value of his assets for insurance purposes, and the president devalued his assets to avoid paying taxes. Cohen also told lawmakers the president exaggerated his net worth in order to obtain a loan from Deutsche Bank in 2014, and Trump Organization executive Allen Weisselberg would be able to provide lawmakers with more details about Trump’s financial dealings.

Go deeper: Recap of Michael Cohen’s explosive public testimony

Go deeper

Situational awareness

Photo: Scott Olson/Getty Images

Catch up on today's biggest news:

  1. Warren supporters form super PAC
  2. We may be on "the brink" of coronavirus pandemic
  3. Pentagon policy chief resigns
  4. National polls show Bernie in control ahead of Nevada
  5. How a Chinese think tank rates all 50 U.S. governors
  6. Sanders and Bloomberg battle over heart health

Trump has declared war on sanctuary cities

Illustration: Sarah Grillo/Axios

Armed with subpoenas, lawsuits and immigration SWAT teams, the Trump administration has declared war on sanctuary cities.

The big picture: President Trump and his administration have used every available tool to try to crack down on local governments that refuse to hold immigrants in criminal custody, block immigration agents from working in county jails or deny federal authorities access to immigrants' records.

Peter Thiel's Founders Fund isn't really Peter Thiel's Founders Fund

Illustration: Photo Illustration: Eniola Odetunde/Axios. Photos: Charles Eshelman, Steve Jennings, and Chip Somodevilla/Getty Images

Founders Fund has raised $3 billion for a pair of new funds, so expect a slew of headlines about how "Peter Thiel's venture capital firm" is now flush with cash.

Behind the scenes: Thiel is essential to Founders Fund, but he's not autocratic. Instead, Axios has learned that he's one of three people with veto power over most FF investments, and is unable to do a deal without approval of the other two.