Supreme Court rules Manhattan DA, but not House Democrats, may get Trump financial records

President Trump decried "political prosecution" after the Supreme Court issued two rulings on separate cases involving his financial records.

The Supreme Court sided with Manhattan District Attorney Cy Vance, whose grand jury subpoenas sought documents from accounting firm Mazars USA and the Trump Organization, including Trump's tax returns.

Separately, the court deferred issuing a ruling on whether congressional committees can have access to President Trump's financial records, punting it to the lower courts instead. The 7-2 outcome is at least a short-term victory for Trump, who has strenuously sought to keep his financial records private.

"The House's approach would leave essentially no limits on the congressional power to subpoena the President's personal records," Chief Justice John Roberts wrote in the majority opinion. "A limitless subpoena power could transform the established practice of the political branches and allow Congress to aggrandize itself at the President's expense."

READ THE TRUMP V. MAZARS USA, LLP DECISION HERE.

After the Vance decision, Trump rued on Twitter that he has to "keep fighting in a politically corrupt New York."

"Not fair to this Presidency or Administration!" he said.

Vance called the Supreme Court's decision on the case he is involved in a "victory for our nation's system of justice." In a 7-2 Thursday decision, the court ruled that the case be returned to the lower courts where Trump's legal team may make further arguments.

READ THE TRUMP V. VANCE DECISION HERE.

"We reaffirm that principle today and hold that the President is neither absolutely immune from state criminal subpoenas seeking his private papers nor entitled to a heightened standard of need," the majority wrote in an opinion.

SUPREME COURT SIDES WITH TRUMP IN BIRTH CONTROL OPT-OUT CASE

The records are held by Trump's longtime accounting firm, Mazars USA, which has said it would comply with a court order.

It probably will be at least several weeks before the court issues a formal judgment that would trigger the turnover of the records.

The court rejected arguments by Trump's lawyers and the Justice Department that the president is immune from investigation while he holds office or that a prosecutor must show a greater need than normal to obtain the records.

Trump's two high court appointees, Justices Neil Gorsuch and Brett Kavanaugh, joined the majority.

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The Associated Press and Fox News' Bill Mears and Shannon Bream contributed to this report.