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House Oversight Committee postpones subpoena deadline for Trump financial records until court ruling

President Trump and House Oversight Committee Chairman Elijah E. Cummings (D-Md.).
President Trump and House Oversight Committee Chairman Elijah E. Cummings (D-Md.). (Jabin Botsford; Salwan Georges/The Washington Post)

The House Oversight Committee has agreed to postpone its deadline for a subpoena of President Trump’s financial records until after a court rules on a lawsuit filed by the president on the matter, according to a court filing Tuesday.

Trump filed the lawsuit Monday against his own accounting firm and the chairman of the House panel, Rep. Elijah E. Cummings (D-Md.), to block the financial documents’ release.

A hearing has been set for May 14, according to Tuesday’s court filing.

The delay marks a temporary victory for Trump, who is facing mounting investigations by House committees into his finances, his campaign and allegations that he sought to obstruct justice during special counsel Robert S. Mueller III’s probe of Russian interference in the presidential campaign.

Cummings’s subpoena relates in part to “statements of financial condition” that the accounting firm, Mazars USA, produced for Trump before he took office.

The unaudited summations of Trump’s net worth, which Mazars compiled annually for Trump, omitted some debts, overvalued some assets and misstated some key facts in ways that made Trump seem wealthier than he was.

Trump’s lawyers have argued that the subpoena represents an “unprecedented overreach by Congress” because it is unrelated to the legislative branch’s main function of writing bills.

In a statement Monday, Cummings said the subpoena was “duly authorized” and called the lawsuit “baseless.”

Ann E. Marimow and David A. Fahrenthold contributed to this report.