U.S. Democrats are expected to launch full-scale investigations into President Donald Trump if they capture either chamber of Congress in the November midterm elections. The party said its first inquiries would target companies that donated to the construction of a White House ballroom and parties to business deals brokered by Trump's family.
Multiple congressional aides, lawmakers and lawyers recently described the plans, Reuters reported on the 28th, local time. Winning either chamber would give Democrats committee subpoena power and the budget to expand investigative staff, and inquiries could begin as early as February, Reuters said. That could lead to prolonged court battles and put the Trump family's business empire under direct scrutiny.
Over the past two years, the Trump family has expanded into cryptocurrencies, drones, artificial intelligence and prediction markets. Trump's personal wealth is estimated to have risen by about $2.2 billion (about 3 trillion won).
House Democratic leader Hakeem Jeffries told reporters on the 17th that Democrats would hold corrupt actors accountable from day one. White House spokesperson Olivia Wales said in a statement that Democrats have no agenda to improve Americans' lives and only plan to obstruct Trump's common-sense agenda and target him without basis.
Unlike the White House, companies cannot claim executive privilege to shield their activities, leaving them vulnerable to such investigations. Rep. Jamie Raskin and Sen. Richard Blumenthal said they were particularly interested in crypto companies linked to Trump and in 1789 Capital, the venture capital firm of Donald Trump Jr., though both stressed that no final target list had been set.
Raskin singled out Jared Kushner, Trump's son-in-law, as a business executive who must be heard from. He called it an outrageous conflict of interest that Kushner secured deals with Saudi Arabia, Qatar and the United Arab Emirates while serving as a presidential envoy. Chad Mizelle, an attorney for Kushner, said in a statement that the allegations were untrue, adding that not even his critics have identified a single rule he has broken.
Raskin also flagged a $620 million (about 840 billion won) Defense Department loan to rare-earth startup Vulcan Elements, announced about three months after an investment by 1789 Capital. The firm said it welcomes legitimate congressional oversight but has no intention of becoming a hostage to political maneuvering.
Companies tied to the Trump family have begun preparing, hiring lawyers for internal audits and retaining crisis-management public relations firms. Blumenthal said that if Democrats take the Senate in November, they will certainly use their subpoena power.
