House panel agrees to temporary stay of Trump subpoena to allow Supreme Court to weigh in on financial records

The House Oversight and Reform Committee told the Supreme Court on Monday that it would not oppose President TrumpDonald John TrumpTrumps light 97th annual National Christmas Tree Trump to hold campaign rally in Michigan 'Don't mess with Mama': Pelosi's daughter tweets support following press conference comments MORE's request for an administrative stay of an appeals court ruling granting House Democrats access to his financial records. 

The panel said in a letter to the high court that it would not oppose a 10-day administrative stay while the justices decide whether to take up Trump's appeal. The committee also said it would file a response to Trump's motion by Friday.

Trump's lawyers had asked the Supreme Court last week to hear their case after the D.C. Circuit Court of Appeals ruled that the House committee could subpoena the president's accounting firm for eight years of financial records.

Trump's legal team had filed for an emergency stay because the appellate court's ruling was set to go into effect on Wednesday.

The president's appeal to the nation's highest court is part of a broad legal effort to keep his tax returns and other financial records out of the hands of Congress and other investigators.

His lawyers have asserted broad claims of immunity from law enforcement investigations as well as congressional subpoenas that may set the stage for the Supreme Court to decide unresolved questions about presidential power.