Mr. Hoylman has stressed that the bill would simply expand on current sharing of state tax information with federal officials, saying the “state tax department routinely supplies tax filing information to the I.R.S.”

Earlier this week, the Treasury Department announced it would not release the tax returns despite a formal request from House Democrats, kicking off a legal battle that will likely go to the Supreme Court.

Indeed, the new details about the president’s steep financial losses disclosed in The Times on Tuesday provided the fullest picture yet of his taxes, and could fuel House Democrats in their fight to get his federal tax returns. They also provided ample material to mock Mr. Trump’s oft-repeated claims of financial prowess.

“Trump was perhaps the worst businessman in the world,” said Representative Bill Pascrell Jr., a Democrat of New Jersey and a member of the House Ways and Means Committee. “His entire campaign was a lie. He didn’t pay taxes for years and lost over $1 billion — how is that possible? How did he keep getting more money and where on earth was it all going? We need to know now.”

Mr. Pascrell insisted that the I.R.S. comply with his committee’s request. “We now have another part of the truth,” he said. “We need a lot more.”