Democrats' Report Reveals Trump's Businesses Accepted Millions in Foreign Payments
ICARO Media Group
In a recent report released by Democrats in Congress, it has been discovered that Donald Trump's hotels and other businesses received over $7.8 million from foreign governments during his presidency. The report, based on documents obtained from Trump's former accounting firm, indicates that China alone accounted for more than $5.5 million of these payments, which raises concerns of constitutional violations.
According to the US constitution, presidents are prohibited from accepting gifts or benefits from their positions without explicit consent from Congress. However, the investigation reveals that Trump's businesses received significant financial contributions from foreign entities without proper approval. Critics argue that this jeopardizes the interests of the American people.
The real estate tycoon turned politician faced ongoing scrutiny regarding potential conflicts of interest since he assumed office in January 2017. Despite delegating day-to-day operations to his sons, Trump retained ownership of his businesses, including the prominent Trump International Hotel in Washington, which became a popular destination for lobbyists, foreign delegations, and other influential figures.
Numerous lawsuits were filed against Trump, claiming conflicts of interest, but the cases were ultimately dismissed by the highest court in the United States in 2021, deemed moot after his defeat in the 2020 election.
Representative Jamie Raskin, the leading Democrat on the House Oversight Committee, voiced his concerns over the investigation's findings, stating that Trump prioritized personal financial gains from foreign governments seeking policy favors rather than serving the American people's best interests. Raskin emphasized the need for stronger measures to address potential conflicts of interest by future presidents.
The report highlights that payments from at least 20 governments, including China and Saudi Arabia, made their way into Trump's businesses. Saudi Arabia and its royal family were the second-largest contributors, spending over $600,000 on Trump properties. Democrats argue that these financial dealings raise concerns over potential conflicts of interest, particularly given the sensitive and politically charged matters that many of these governments had before the US.
Notably, the report only covers the first two years of Trump's presidency and focuses on four of his properties. Democrats contend that the findings likely represent only a fraction of the total amount of foreign money that flowed into Trump's businesses during his time in office.
However, the Democratic investigation was abruptly cut short in 2022 when they lost control of Congress, limiting their ability to compel further document releases and conduct a more comprehensive review.
In response to the report, Republican James Comer, who is leading an inquiry into the business dealings of President Joe Biden's son during his father's vice presidency, dismissed the findings as Democrats' obsession with the former president. Comer argued that Trump's businesses were legitimate, while implying that the same could not be said for the Bidens.
As for Trump, his tax records, which were made public in 2022, revealed significant business losses during his presidency. Consequently, he has scaled back his business ventures, including the sale of the Trump Organization's Washington hotel to an investment group for $375 million in the same year.
The revelations from the Democrats' report further contribute to the ongoing debate surrounding the ethical considerations of business dealings by politicians and the need for more robust regulations to prevent conflicts of interest in the future.