WASHINGTON, DC – Rep. Eric Swalwell (CA-15) introduced Prevent Corrupting Foreign Influence Act on Monday to significantly improve upon the existing ban on America’s highest elected officials receiving financial benefits from foreign powers.
The new bill would make it a criminal offense for the President, the Vice President, their families, or companies in which they have at least half-ownership to accept or receive anything of value from a foreign power or from any company that is more than 50 percent controlled by a foreign power.
“Unlike other Presidents, Donald Trump has failed to distance himself from his private business interests while serving our nation, and so he and his family are getting richer from Trump companies that receive money and benefits from foreign powers,” Swalwell said. “Americans deserve to know that their President is working for them and only them, not having his own wallet fattened by foreign interests.”
Presidents Jimmy Carter, Ronald Reagan, George H.W. Bush, Bill Clinton and George W. Bush used blind trusts to isolate their business interests while in office. President Barack Obama didn’t only because he didn’t hold any interests or assets that could present a conflict of interests.