East Bay Rep. Eric Swalwell has long been a cable news pest for President Donald Trump. But a bill introduced by Swalwell Monday takes specific aim at the President’s personal wealth.
Titled, the “Prevent Corrupting Foreign Influence Act,” the legislation would make it a criminal offense for Trump, the vice president, their families and companies in which they have at least “half-ownership” to be prohibited from accepting anything of value from a foreign power or a company that maintains a majority ownership from 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. Americans deserve to know that their President is working for them and only them, not having his own wallet fattened by foreign interests,” Swalwell said in a statement.
Although Swalwell’s criticism of Trump has primarily focused on Russia, the impetus for his legislation is a $500 million loan deal between a company backed by the Chinese government and a large development in Indonesia of which Trump’s business organization is involved.