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A House panel could decide to release former President Donald Trump's tax returns to the public, more on the big questions lawmakers are asking, and can a massive spending bill clear Congress before holiday recess?

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It's Tuesday, December 20th. I'm Anne Marie for Tolly for the Wall Street Journal. This is the PM edition of What's News, the top headlines and business stories that moved the world today.

The House Ways and Means Committee is meeting behind closed doors where lawmakers are likely to review former President Donald Trump's tax returns.

The Committee gained access to the documents late last month after the Supreme Court denied Trump's request to block the panel from obtaining them from the Internal Revenue Service.

The panel could vote at the end of its meeting to release some of the documents that hadn't happened at the time of this recording.

But here now to explain how we got here is our Tax Policy reporter, Richard Rubin.

Hi, Richard. Thanks so much for being here.

Hey, thanks for having me.

So first Richard, it's been a pretty protracted battle for the House Committee to even get these documents more than three years.

How unusual has that process been?

It's super unusual. The normal course of things when the House Committee asks for tax return information, which they do for investigations for oversight, for analysis, they get it.

This was an unusual case in both that we knew that they were asking because normally the request themselves are private and that it was blocked in part because President Trump at the time was in office and in charge effectively of the Treasury Department, which didn't hand over this information.

What are the key questions lawmakers have about Trump's tax returns?

Well, the ostensible argument from House Ways and Means Democrats about why they want these returns is to conduct and investigation some oversight into how the IRS audits presidents.

And it is an interesting conflict of interest, the Presidents in charge of the executive branch, which includes the IRS.

So that can be a difficult relationship between Presidents and the tax agency. What they say they're interested in mostly is how that audit went while Trump was president.

Now, there are plenty of other things that people will be looking for that might give us some indication of how much income he reported, how much taxes he paid, what charitable donations he made, all of those things.

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