Washington, DC – U.S. Sen. Ron Wyden today co-sponsored an amendment to the Fiscal Year 2021 National Defense Authorization Act (NDAA) that would require Donald Trump and the Trump Organization to disclose full financial information for foreign properties owned by Trump’s family business.
That information would include the total income earned by the Trump Organization from any licensing agreements.
“This isn’t complicated – the American people deserve to know if presidents are making decisions based in our country’s best interests or their own best financial interests,” Wyden said. “Given that Trump has refused to tell the country just what stakes he has in foreign entities, this amendment is a must for both transparency and accountability about any conflicts of interest putting undue influence on Trump’s conduct of U.S. foreign policy.”
In addition to Wyden, other co-sponsors of the amendment led by U.S. Sens. Tom Udall (D-N.M.) and Patrick Leahy (D-Vt.) are U.S. Sens. Martin Heinrich (D-N.M.), Richard Blumenthal (D-Conn.), Elizabeth Warren (D-Mass.), and Robert Menendez (D-N.J.).
The amendment would achieve the following:
– Transparency: The amendment increases transparency into foreign property owned by Trump, specifically, the amendment would require Trump to disclose all beneficial ownership in his properties, to Congress and the broader public. This disclosure would allow for a better understanding of Trump and the Trump Organization’s relationships and financial interests abroad.
– Promote the Rule of Law: The amendment would require Trump and the Trump Organization to disclose financial information, including the total income earned by the Trump Organization from any licensing agreements for foreign properties. This disclosure would help promote the rule of law in accordance with the Foreign Emoluments Clause of the U.S. Constitution, which prohibits federal officers from accepting foreign emoluments without congressional consent.
– Allow for More Oversight: The amendment mandates disclosure of the total income earned by the Trump Organization from any licensing agreements for foreign properties. This would allow for Congress and the broader public to learn of direct conflicts of financial interest from which Trump and the Trump Organization directly benefit.
Text of the amendment is here.
A web version of this release is here.