Washington, D.C. - Following news reports that the Trump Organization transferred profits from foreign governments to the U.S. Treasury Department, Senate Finance Committee Ranking Member Ron Wyden, D-Ore., requested that Treasury Secretary Steve Mnuchin disclose the size of that payment, in a letter sent on March 8. The Senate Finance Committee granted Treasury the authority to accept voluntary payments that lower the national debt in 1961 and has oversight over the acceptance of such payments.
The Trump Organization’s profits from foreign governments could be a violation of the Emoluments Clause, which bans sitting presidents from receiving gifts or payments from foreign governments, except with the consent of Congress. Last year, Wyden joined nearly 200 members of Congress in filing a lawsuit against Trump for accepting money from foreign agents.
Read the full letter to Treasury here.
