Bipartisan oversight committee duo teams up to force presidents, close family to disclose finances
An unlikely bipartisan duo is pushing a bill that would require U.S. presidents and their close relatives to disclose their finances for years before and after holding office.
House Oversight Committee Chairman James Comer, a Republican from Kentucky, and Rep. Katie Porter, a California Democrat also on the committee, are collaborating on a bill that would require presidents to provide tax filings from two years before their election through two years after they leave office. The Wall Street Journal first reported on the bill.
The GOP-Democratic lawmakers say their aim is to ensure accountability and fairness in the Oval Office without regard to political party.
"[Porter is] not doing it to pick on Trump and I’m not doing it to pick on Biden," Comer told the WSJ about their motivations in crafting the bill.
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The WSJ reports that the proposed bill, which is set to be introduced on Wednesday, will also require the president, his family and close associates to disclose any large financial gift received, including payments from foreign entities.
"This bill is very evenhanded in trying to cover a range of situations that have applied to recent presidents," Porter told the outlet.
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Presidents' finances have become the target of intense scrutiny in the past few years as Republicans and Democrats have traded accusations about abuse of office for personal gain.
President Biden and his son Hunter Biden have been accused by Republicans of engaging in influence peddling with overseas actors.
Democrats previously accused former President Trump of failing to properly separate his business interests from his role as commander in chief.
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Comer, in his role as Oversight chairman, issued a new subpoena on Tuesday related to "shell companies" and "many different bank accounts" connected to the Biden family.
Porter is approaching the end of her time in Congress after she ran to replace fellow California Democrat Sen. Dianne Feinstein, who passed away in 2023.
She lost the primary election in March of this year and will be leaving Congress at the end of her current term.