Photo: Win McNamee/Getty Images

A federal appeals court ruling Friday morning in House Democrats' favor was just one piece of a web of ongoing court and legislative battles to obtain President Trump's tax returns and financial records.

Why it matters: The case to subpoena President Trump's financial records from Mazars USA, his longtime accounting firm, is much farther along in the courts than most of the opposition's other efforts — and it might be Democrats' best chance to make them public.

  • Unless the full D.C. Circuit Court of Appeals hears the case or the Supreme Court takes it up on appeal from Trump's legal team, the president could lose his long, bitter fight to keep his finances private.

The other court battles:

  • House Democrats have sought financial records for Trump, his family members and his businesses via Deutsche Bank in federal court in New York. But the court indicated in a ruling this week that Deutsche Bank is not in possession of the president's tax returns.
  • Trump won an emergency stay from a federal appeals court earlier this week after losing a key ruling in a case brought by Manhattan's district attorney for 8 years of the president's personal and corporate tax returns. The case is awaiting "expedited review" by a court panel.
  • The House Ways and Means Committee sued the Treasury Department in July to compel the IRS to turn over 6 years of Trump's tax returns. That case is awaiting a hearing next month.

California and New York have passed their own laws to attempt to get a look at Trump's taxes, but both have faced quick lawsuits from the president — resulting in injunctions while the cases proceed.

The other side: The Trump administration's position is that the requests for his returns serve no "legitimate legislative purpose," and therefore don't have to be fulfilled.

  • The Justice Department also says it's for this reason that Congress can't subpoena the documents.

What we do know: A decade of Trump's tax documents received by the New York Times in May revealed that he racked up $1.17 billion in losses from 1985 to 1994.

  • He seems to have lost enough money that he was able to avoid paying income taxes for 8 of the 10 years.

Go deeper

6 mins ago - Podcasts

Facebook boycott organizers share details on their Zuckerberg meeting

Facebook is in the midst of the largest ad boycott in its history, with nearly 1,000 brands having stopped paid advertising in July because they feel Facebook hasn't done enough to remove hate speech from its namesake app and Instagram.

Axios Re:Cap spoke with the boycott's four main organizers, who met on Tuesday with CEO Mark Zuckerberg and other top Facebook executives, to learn why they organized the boycott, what they took from the meeting, and what comes next.

Boycott organizers slam Facebook following tense virtual meeting

Illustration: Sarah Grillo/Axios

Civil rights leaders blasted Facebook's top executives shortly after speaking with them on Tuesday, saying that the tech giant's leaders "failed to meet the moment" and were "more interested in having a dialogue than producing outcomes."

Why it matters: The likely fallout from the meeting is that the growing boycott of Facebook's advertising platform, which has reached nearly 1000 companies in less than a month, will extend longer than previously anticipated, deepening Facebook's public relations nightmare.

Steve Scalise PAC invites donors to fundraiser at Disney World

Photo: Kevin Lamarque-Pool/Getty Images

House Minority Whip Steve Scalise’s PAC is inviting lobbyists to attend a four-day “Summer Meeting” at Disney World's Polynesian Village in Florida, all but daring donors to swallow their concern about coronavirus and contribute $10,000 to his leadership PAC.

Why it matters: Scalise appears to be the first House lawmakers to host an in-person destination fundraiser since the severity of pandemic became clear. The invite for the “Summer Meeting” for the Scalise Leadership Fund, obtained by Axios, makes no mention of COVID-19.