President Donald Trump’s family business interests could face a series of congressional investigations next year if Democrats win control of the House or Senate in the upcoming midterm elections.
As reported by Reuters, Democratic members of Congress and their staff are planning possible inquiries into cryptocurrency ventures linked to Trump, into Donald Trump Jr.'s investment company 1789 Capital, into the corporate donors who have supported Trump's proposed White House ballroom, and into other business activities involving members of the president's family. Holding control of either chamber would grant the Democrats the ability to issue subpoenas and also provide extra funding for investigative staff.
According to Rep. Jamie Raskin from Maryland and Sen. Richard Blumenthal from Connecticut, Trump-associated crypto companies and 1789 Capital are some of the areas that have attracted the attention of Congress, even though both officials stated that the Democrats have not yet drawn up a list of targets.
Sen. Adam Schiff from California has also advised companies to keep records relating to their transactions with Trump and his administration. When speaking to Reuters about the Trump family's business activities since the president returned to office, Schiff said that "the First Family has been making money hand over fist".
Raskin pointed to one instance involving a $620 million loan from the Pentagon to the rare-earth startup Vulcan Elements, which was announced about three months after 1789 Capital had invested in the company. Vulcan Elements stated that it had not asked its investors to help secure the Pentagon financing and that it would cooperate with Congress.
The company has engaged the law firm Quinn Emanuel to deal with the congressional inquiries. While welcoming legitimate congressional oversight, it has denied the accusations made by Raskin and has charged him with making politically motivated claims unbacked by evidence.
The Democrats are also looking into Jared Kushner's private equity company, Affinity Partners, and its activities in the Middle East. Raskin stated that the lawmakers would like to question Kushner about his business connections while he is acting as a U.S. special envoy for peace. It should be noted that Kushner is not a member of the government workforce. His lawyer, Chad Mizelle, has denied any wrongdoing and said that the people who have criticised him have not pointed to any rule or regulation that Kushner has broken.
The White House has dismissed the claims made by the Democratic Party, claiming that the party intends to carry out investigations which are politically motivated and designed to hinder Trump's agenda. Additionally, Republican Senator Kevin Cramer from North Dakota has told Reuters that the Democrats might encounter voter resentment should they focus heavily on Trump's personal and business affairs.
Blumenthal, who would be able to chair an investigations committee if the Democrats take control of the Senate, made it clear that the lawmakers are willing to obtain cooperation.
“We will use our subpoena power, absolutely,” Blumenthal told Reuters.
According to Reuters, companies linked to Trump and his family are already getting ready for the possibility in question by employing lawyers to carry out internal reviews and crisis communication firms to handle any possible negative public reaction, and investigations could start as early as February if the Democrats take control of either chamber.
