President Donald Trump, in whom Senator John McCain, (R, Ariz.), lacks confidence, is being sued for profiting from his financial holdings in foreign countries while serving as President. The organization Citizens for Responsibility and Action (CRA), is suing Trump for failing to relinquish his financial empire before taking office as President. Although the White House is making the case that Trump did relinquish control of his financial empire when he signed a statement turning over the control of all of his holdings to his adult children Don Jr.
and Eric Trump, CRA is alleging that Trump nevertheless did not relinquish ownership of his empire and still can profit from it as President.
Harvard professor weighs in
Harvard Law professor Laurence Tribe emphatically stated that turning over control of his holdings to his sons is not sufficient because of the Foreign Emoluments Clause, under which government employees are not allowed to profit from foreign holdings while serving in the public sector. Tribe pointed out that “You could be President of the United States or you could be a tycoon, but you can’t be both at the same time,” (ABC News, 1-23-17).
Herein lies the crux of Tribe's argument, and that of CRA, that Trump's vast foreign financial holdings constitute a conflict of interest while he is serving as President.
The Trump International Hotel
The Trump International Hotel is of great concern to CRA as well. As CRA sees it, Trump created a horrific conflict of interest and potential public relations nightmare when he allowed a reception there a few weeks ago for officials from Bahrain. At the time of the reception, Trump was President-elect and had not yet signed over control of his vast financial holdings to his two sons. CRA's lawsuit alleges that when Trump took money from Bahrain, even though he had not yet taken office as President, that he was violating the Constitution.
CRA further alleges that there will be more receptions in the future and that the conflicts of interest will be of tantamount concern because of the vast Trump family holdings, even if Trump has temporarily signed control of vast holdings over to his sons while he is President.
Millions to lose health care
Meanwhile, millions of Americans will lose their health coverage with the repeal of the Affordable Care Act, (ACA). Both Congress and Trump have taken initial steps over the last few days to repeal the ACA, or, as it is nicknamed, "Obamacare." Throughout the campaign, Trump promised that as soon as Obamacare was to be repealed that he would "immediately" replace it with something else. Thus far, neither Trump nor Congress have offered any evidence of any new plan that will replace Obamacare. It is a "wait and see" matter from this point forward.