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Photo: Spencer Platt/Getty Images

A decade of tax information obtained by the New York Times illustrates that in 1985, Trump reported losses of $46.1 million from his primary businesses — casinos, hotels and retail spaces — with losses totaling $1.17 billion through 1994, according to his federal income tax returns.

The big picture: The Times reports that Trump lost more than nearly any other American taxpayer when compared to a high-income data sampling compiled annually. He seems to have lost enough money that he was able to avoid paying income taxes for 8 of the 10 years.

  • Trump's business losses between 1990 and 1991 alone totaled more than $250 million annually, the Times reports.
  • The returns do not cover 2013–2018, the years at the center of an ongoing dispute between the Trump administration and Democrats.

What they're saying: Last Saturday, Charles J. Harder, a lawyer of Trump's, called the tax information “demonstrably false,” and said the NYT's statements “about the president’s tax returns and business from 30 years ago are highly inaccurate."

  • “I.R.S. transcripts, particularly before the days of electronic filing, are notoriously inaccurate” and “would not be able to provide a reasonable picture of any taxpayer’s return,” Harder said.
  • "Mark J. Mazur, a former director of research, analysis and statistics at the I.R.S., said that, far from being considered unreliable, data used to create such transcripts had undergone quality control for decades and had been used to analyze economic trends and set national policy," reports the Times.

Go deeper

10 mins ago - Politics & Policy

Scoop: Border Democrats want migrants vaccinated

Rep. Filemon Vela (D-Tex.) Photo: Chip Somodevilla/Getty Images

Some Democrats representing border districts want President Biden to vaccinate migrants crossing into the U.S. — especially if he lifts public health restrictions that have prevented them from claiming asylum on American soil.

Why it matters: Inoculating migrants treads a fine line of protecting the U.S. population while possibly incentivizing more migration with the offer of free COVID-19 vaccines. Republicans are likely to pounce on that.

10 mins ago - World

State Dept. fears Chinese threats to labor auditors

A space for media is designated by Chinese authorities near a mosque in the Xinjiang region of China. Photo: Greg Baker/AFP via Getty Images

The State Department is concerned organizations performing supply-chain audits in China are coming under pressure from Chinese authorities.

Why it matters: U.S. law prohibits importing products made through forced labor, but it's becoming increasingly difficult to verify whether products from China are tainted.

By the numbers: States with most guns, homicides

Data: USA Facts, U.S. Census Bureau; Chart: Sara Wise/Axios

President Biden unveiled his anti-crime plan Wednesday following a surge in violent crime across the country — particularly in big cities.

Why it matters: Part of the administration's plan involves cracking down on gun dealers. The U.S. has witnessed mass shootings on a weekly basis this year, according to the Gun Violence Archive.

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