US President Donald Trump’s businesses lost a total of more than $ 1 billion, NY Times reported. 

According to the source, Trump claimed losses in excess of $ 250 million in 1990 and 1991.

“Though the information does not cover the tax years at the center of an escalating battle between the Trump administration and Congress, it traces the most tumultuous chapter in a long business career — an era of fevered acquisition and spectacular collapse,” the source noted.

According to the newspaper, for 10 years, Trump's core business, including casinos, hotels and residential buildings, has lost 1.17 billion dollars.

The Times quoted a lawyer for the president, Charles J. Harder,  who wrote that the tax information was “demonstrably false,” and that the paper’s statements “about the president’s tax returns and business from 30 years ago are highly inaccurate.”

Trump handed over the management of his business to his sons after his election in 2016.

 He refused to publish his tax returns as a presidential candidate in 2016 or after his election, saying that he could not do this as checks are underway.

Earlier this week, US Treasury Secretary Steven Mnuchin rejected a request from the House of Representatives Committee on Ways and Means to submit Trump's tax returns.

Democrats want to include Trump's tax data in their investigation into a possible conflict of interest.