"As the court reads it, presidential immunity would stretch to cover every phase of criminal proceedings, including investigations, grand jury proceedings and subpoenas, indictment, prosecution, arrest, trial, conviction, and incarceration", Marrero wrote.
Vance's office is specifically looking into whether NY state laws were broken when the president's lawyer, Michael Cohen, was reimbursed by the Trump Organization for payments made to adult film star Stormy Daniels, who claimed she had had an affair with Trump.
Mr Trump has declined to release his tax returns, claiming they were under audit by the Internal Revenue Service, and there have been various attempts to obtain them, including by the Democratic-led House of Representatives. Yes, one can easily see how this broad claim of immunity can be abused, but then again, one can see how the prosecutorial processes of states and localities can be abused to unfairly besmirch presidents and other executive officers. The 2nd Circuit appeals court heard oral arguments in the Deutsche Bank case on August 23. Justice Department policy, however, has always been that sitting presidents can not be charged criminally, and impeachment is the only way to address potential wrongdoing.
The Constitution does not say whether sitting presidents can be indicted, and the Supreme Court has not decided the issue.
Grand jury proceedings and records in NY are secret.
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California's governor signed a law in July that would prevent Mr Trump from appearing on the state's primary ballot unless he discloses his income tax returns.
The president was not ultimately charged, and it's unclear if he wasn't charged because of a lack of evidence, or because Justice Department guidelines that say a sitting president can not be indicted.
He echoed host Neil Cavuto's remark the tax returns situation is part and parcel to the "understatement of the century" - that state and local governments can be "intrusive" into the private life of a president of the United States.
Cohen was sentenced to three years in federal prison in December 2018 for evasion and campaign-finance law violations related to the payment. They asked the Treasury Department for six years of his tax returns and for financial records from various companies, including President Trump's accounting firm.
In a tweet Monday, Trump criticized the legal effort.
"Shunning the concept of the inviolability of the person of the King of England and the bounds of the monarch's protective screen covering the Crown's actions from legal scrutiny, the Founders disclaimed any notion that the Constitution generally conferred similarly all-encompassing immunity upon the President", Marrero wrote. But the question of whether he can be probed by state authorities has never been tested in court. But the policy doesn't address whether a sitting president can be investigated, or whether that protection extends to investigations by non-federal law enforcement agencies.
The judge went so far as to note that Trump is not a king.