President Trump speaks during a Cabinet Meeting at the White House on Oct. 21. Photo: Brendan Smialowsky/AFP via Getty Images

Congress can seek eight years of President Trump's tax records, according to a federal appeals court ruling on Wednesday.

Why it matters: It's a major setback for Trump, who's tried to block every attempt to make his tax returns public and plans to take the case to the U.S. Supreme Court.

What they're saying: Trump's lawyer Jay Sekulow confirmed after the 8-3 vote by the U.S. Court of Appeals for the D.C. Circuit that rejected the president's request to "rehear arguments that the subpoena to Mazars LLP was illegitimate" that his legal team would appeal to the Supreme Court, per Reuters.

  • Sekulow said after Trump lost his New York tax returns fight that the issue "goes to the heart of our republic," per Bloomberg. "The constitutional issues are significant," he said.

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Editor's note: This article has been updated with new details throughout.

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New York AG files lawsuit to dissolve NRA

Wayne LaPierre. Photo: Saul Loeb/AFP via Getty Images

New York Attorney General Letitia James filed a lawsuit Thursday to dissolve the National Rifle Association, alleging the group committed fraud by diverting roughly $64 million in charitable donations over three years to support reckless spending by its executives.

Why it matters: The NRA is the most powerful gun lobby in the country and receives a huge amount in donations each year, but New York's investigation claims that CEO Wayne LePierre and other top leaders undermined the organization's mission for their own personal benefit.

20 mins ago - World

How 2,750 tons of ammonium nitrate were stranded in Beirut

The port after the explosion. Photo: AFP via Getty Images

On Sep. 23, 2013, a Russian-owned, Moldovan-flagged ship departed Georgia en route to Mozambique bearing 2,750 tons of ammonium nitrate, a material used in fertilizer as well as explosives.

Why it matters: The Rhosus made an unscheduled stop in Beirut, apparently due to engine problems. The ammonium nitrate never left the port, but destroyed it nearly seven years later, along with much of the city.

Pelosi rips GOP: "Perhaps you mistook them for somebody who gives a damn"

House Speaker Nancy Pelosi tore into her Republican colleagues on Thursday for their approach to negotiating the next coronavirus stimulus package, telling CNBC's Jim Cramer: "Perhaps you mistook them for somebody who gives a damn."

Why it matters: Democrats and the Trump administration have not agreed to any "top-line numbers" and remain "trillions of dollars apart," White House chief of staff Mark Meadows told reporters on Thursday.