A gaggle of Democratic US senators on Monday issued a brand new report outlining the unprecedented self-enrichment being carried out by President Donald Trump throughout his second time period in workplace.
The report, known as “The Cost of Corruption: How Trump Turns Power into Profit at Americans’ Expense,” accuses the president and his household of turning “the facility of the presidency into eye-popping income,” with Trump himself rising his web value by greater than $2 billion since his return to the Oval Workplace final yr.
The report highlights how Trump’s two eldest sons have invested in quite a few technology start-ups which have subsequently acquired lavish contracts from the US Division of Protection.
In response to a report revealed by The Washington Post final week, the Trump sons’ portfolio of tech companies has collectively generated “at the least $3.2 billion in direct authorities enterprise” and an “further $3.1 billion in future contract choices” since their preliminary investments.
The report additionally factors to the huge windfall the Trump household has scored from World Liberty Monetary, its cryptocurrency enterprise that’s practically half owned by a fund backed by the United Arab Emirates and that helped Trump pocket greater than $1 billion in only a yr.
Whereas Trump and his household money in, the report provides, the president and his administration have dismantled the Client Monetary Safety Bureau, slashed spending on the Supplemental Dietary Help Program, and given lavish tax cuts to the richest Individuals.
Trump’s acceptance of a $400 million luxurious jet from the royal household of Qatar additionally will get a point out, and the report notes that the president is utilizing at the least $1 billion in taxpayer cash to renovate the aircraft with safety upgrades.
The report additionally cites numerous Trump “self-importance tasks,” together with his luxurious White House ballroom and his French-style arch in Washington, DC, as wastes of cash and assets.
“Trump is with out query probably the most corrupt president in American historical past,” said Senate Minority Chief Chuck Schumer (D-NY) in saying the report. “Trump has betrayed the American individuals by utilizing our highest workplace not for the nice of nation, however to pad his personal checking account, on the expense of working households.”
The report is a part of a broader initiative by Senate Democrats to carry the Trump White Home accountable, which can embody an anti-corruption working group composed of Schumer together with Sens. Sheldon Whitehouse (D-RI), Jeff Merkley (D-Ore.), Catherine Cortez Masto (D-Nev.), Alex Padilla (D-Calif,), and Andy Kim (D-NJ).
Merkley, in saying his assist for the initiative, mentioned that “the Trump swamp of corruption is a mile deep and MEGA-wide.”
“Trump and his household use his workplace and official connections to rake in billions for themselves at each flip,” Merkley added. “Not solely is that this making life dearer for hard-working Individuals, it’s a menace to authorities ‘by and for the individuals.'”
