Watchdog groups say Trump and other Trump advisers are using offshore firms to sidestep campaign finance rules

WATCH: The White House says President Donald Trump is not running an offshore company and he is not paying taxes.

Trump’s campaign and his lawyers have said that while he is required to report his foreign earnings, they can avoid paying federal income taxes on his foreign profits by using an offshore entity that has been used by his businesses for years.

Trump and his allies in Congress have pointed to the president’s offshore holdings as proof that he is complying with campaign finance laws and as a way to avoid paying taxes on foreign profits.

In an Oct. 26 letter to Senate Minority Leader Chuck Schumer, Sen. Charles Schumer, D-N.Y., and several other Senate Democrats, the Senate Permanent Subcommittee on Investigations said the president and his businesses are using a tax haven to avoid U.S. income taxes.

The subcommittee’s letter also said that since the Trump Organization started accepting payments from foreign governments in 2016, it has been able to pay tax at a low rate compared to most American businesses.

The letter said Trump has been in violation of U.s. tax laws since 2015, when he used a company called Trump Entertainment Resorts LLC to pay $400 million in income taxes to the federal government.

That tax money was then used to pay for a hotel that was built at the Trump SoHo property in New York City.

Trump has long denied any wrongdoing in the case, saying he paid the tax on foreign income as required by law.

In 2017, the Trump campaign and the Republican National Committee said they paid no federal income tax.

The House Oversight and Government Reform Committee, chaired by Rep. Darrell Issa, R-Calif., on Tuesday released a report finding that Trump has used more than $3 billion in tax havens since taking office, according to data from the Center for Responsive Politics.

The report did not provide specific details about the types of entities Trump is using to avoid taxes, and it did not say if Trump is paying any taxes on those profits.

Issa said Tuesday that he will introduce legislation in the next few weeks that would require the administration to publicly report information about Trump’s foreign financial holdings.

The chairman, Issa said, wants to get the information so the public can make an informed decision about how to pay taxes on the money he has allegedly been using for personal use.

Trump was forced to release his tax returns after the House Ways and Means Committee in January released a summary of his returns showing that he had reported $916 million in foreign profits that year.

He has not released those returns since then.

The Trump Organization declined to comment Tuesday.

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