Two congressional Democrats, aided by press investigations, are connecting the dots between President Trump's real estate holdings and the Trump Administration's proposed budget.
"Two congressional Democrats are demanding more information about President Trump’s potential conflicts of interest stemming from his part ownership of the nation’s largest federally subsidized housing complex," reports Yamiche Alcindor.
Starrett City, an affordable housing complex in Brooklyn (officially known as the Spring Street Towers), "could benefit financially from decisions made by the Department of Housing and Urban Development," according to the concern of Rep. Elijah E. Cummings (D-Maryland) and Rep. Hakeem Jeffries (D-New York). The complex is located in Rep. Jeffries's district.
The congressman made the demands in a letter, according to Alcindor:
The lawmakers sent the letter on Friday to the president’s eldest son, Donald Trump Jr., and Allen H. Weisselberg, the Trump Organization’s chief financial officer, who oversees a trust that holds the president’s business assets. The letter was also sent to Ben Carson, the secretary of the housing department, and Representative Trey Gowdy, Republican of South Carolina and the chairman of the oversight committee.
President Trump owns a 4 percent stake in Starrett City, valued between $5 million and $25 million. An investigation by Shawn Boburg, published in June, revealed that "President Trump’s budget calls for sharply reducing funding for programs that shelter the poor and combat homelessness — with a notable exception: It leaves intact a type of federal housing subsidy that is paid directly to private landlords." That is, private landlords like Trump of developments like Starrett City.
Read the full story: Lawmakers Question Trump’s Stake in Subsidized Housing Complex
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