Trump prepares new arguments as judge sets timeline of New York tax return case

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What do SCOTUS rulings on Trump's financial records mean for the president?

Carrie Severino, president of the Judicial Crisis Network, breaks down the Supreme Court decisions.

President Trump will have less than two weeks to submit new arguments in his case against Manhattan District Attorney Cy Vance over a subpoena for financial records, including his tax returns.

U.S. District Court Judge Victor Marrero approved of a schedule that both sides had proposed after the Supreme Court sent the case back down for further arguments. Trump will have until July 27 to submit an amended complaint that includes new reasons for why a grand jury subpoena issued to accounting firm Mazars USA should not be enforced, after the Supreme Court rejected Trump’s claim of immunity.

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Vance's team asserted that they plan on swiftly responding with a motion to dismiss the amended complaint.

As far as what Trump’s new arguments will be, his attorney said Thursday that the president has not been able yet to fully review the SCOTUS ruling and therefore is not prepared yet to inform the court of what kind of arguments he intends to make.

Trump's side did note in a Wednesday joint court filing that the Supreme Court mentioned several potential avenues that he could explore, including that the DA’s office’s subpoena was not properly tailored to their investigation.

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Trump attorney William Consovoy indicated that they may very well go down that road in their amended complaint, pointing to the similarity the New York subpoena had to Congressional subpoenas that also sought Trump's financial records.

"We believe that we can further allege, to the extent the president chooses to do so, that this is not a properly tailored subpoena," Consovoy said Thursday. "As Your Honor noted and as all the courts have noted, the subpoenaed is copied verbatim from a congressional subpoena."

Consovoy added that "we continue to be deeply skeptical that a subpoena from New York County ... is exactly the same scope and nature as two different federal investigations focused on federal issues."

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Manhattan prosecutors issued a grand jury subpoena to Mazars for Trump's records as part of their investigation of payments made before the 2016 election to women who claimed they had affairs with Trump in the past.

Fox News’ Marta Dhanis contributed to this report.