U.S. media outlets on Sunday, including the New York Times, released reports on President Trump's tax returns, saying that the president did not pay federal income tax for ten of the fifteen years starting from 2000, because he reported far more losses than he earned.
The reports also indicated that Trump paid just 750 U.S. dollars in federal income tax in 2016, the year he won the presidential election, and in 2017, his first year in the White House.
The New York Times claimed Trump could have long been using loopholes in the tax system to avoid paying income tax.
Trump responded to the reports during a press conference at the White House on Sunday, calling them "fake news", and saying he would be willing to release his tax returns as soon as the IRS completes its audit.
"It's totally fake news made up, fake. We went through the same stories. You could have asked me the same questions four years ago. I had to litigate this and talk about it. Total fake news. No, actually, I paid tax."
However, U.S. media argue that being audited by the IRS does not prevent the president from disclosing his tax returns.
The New York Times also revealed that Trump has more than 300 million dollars in loans due for repayment within the next few years.
House Speaker Nancy Pelosi on Monday called the reports on Trump's loans a "national security issue", and added that they raise questions about whether foreign nations or individuals could have "leverage" over the president.
The latest reports do not include the U.S. president's tax returns from 2018 and 2019.
Lee Seung-jae, Arirang News.