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WASHINGTON – President Donald Trump blamed "write offs" and "depreciation" for millions in business losses in the 1980s and 1990s after the New York Times exposed details of his tax returns.

The story states Trump's businesses lost more than $1 billion from 1985 to 1994 – and he was able to avoid paying taxes in eight of those ten years. Trump disputed the Times story but did not specify his objections.

"Real estate developers in the 1980’s & 1990’s, more than 30 years ago, were entitled to massive write offs and depreciation which would, if one was actively building, show losses and tax losses in almost all cases," Trump tweeted early Wednesday.

Democrats and other critics said the report underscored the need to review more of Trump's tax records, as they questioned how he was able to stay afloat as he pursued his highly publicized business career.

Noting that a congressional committee is seeking Trump's tax returns, House Speaker Nancy Pelosi, D-Calif., tweeted that the Times story "underscores the importance of the Administration giving the Congress access" to those documents.

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In a pair of tweets, Trump said it was routine for real estate developers to report losses – "sometimes considered 'tax shelter'" – and was done in part to re-negotiate loans from banks.

Said Trump: "You always wanted to show losses for tax purposes....almost all real estate developers did - and often re-negotiate with banks, it was sport."