Rep. Huffman Joins Bill to Ensure President-Elects Address Conflicts of Interest

December 02, 2016

Washington, D.C. --  Rep. Jared Huffman (D-CA) joins Rep. Katherine Clark (D-MA) in cosponsoring legislation to ensure that U.S. Presidents are required to resolve any conflicts of interest with regard to financial interests and official responsibilities. Current law prohibits federal office holders from engaging in government business when they stand to gain profit, but the President and Vice President are currently exempt from this statute.

The Presidential Accountability Act removes this exemption and requires the President and Vice President to place their assets in a certified blind trust or disclose to the Office of Government Ethics and the public when they make a decision that affects their personal finances. From the Trump Organization’s federal contract to operate the President-elect’s hotel in the Old Post Office Pavilion in Washington, D.C. to the President-elect’s business interests present an unprecedented level of conflict and a new need for this exemption. Trump has also appointed his children to serve in leadership positions on both the President-elect’s transition team and his businesses. The Presidential Accountability Act prohibits the President from engaging in government responsibilities from which they or their families can benefit financially.

Past presidents have used some form of blind trust or placed their assets in an investment vehicle over which they had no control.

The full text of H.R. 6340 can be found here.

###