Rep. Clark Introduces Bill Requiring Presidents to Resolve Financial Conflicts of Interest

WASHINGTON, D.C. – Congresswoman Katherine Clark introduced a bill Thursday that would require presidents and vice presidents to resolve financial interests that could conflict with their official responsibilities as President-elect Donald Trump prepares to enter office with an unprecedented web of business dealings.

According to Clark's office, current law prohibits federal office holders from engaging in government business from which they might profit financially. However, the president and vice president are exempt from the statute.

The Presidential Accountability Act, Clark's proposed legislation, would require the president and vice president to place their assets in a certified blind trust or disclose a decision that affects their personal finances to the Office of Government Ethics and the general public.

The bill would also prohibit the president from engaging in government dealings from which they or their families may benefit financially.

Clark's office cited several potential conflicts of interest within the current president-elect's business dealings that prompted the proposal, including his hotel in Washington, D.C., his debt to foreign banks and his children's involvement with his transition team while holding positions within his organization.

"The President of the United States has the power to affect how our tax dollars are spent, who the federal government does business with, and the integrity of America’s standing in a global economy," Clark said in a statement. "Every recent president in modern history has taken steps to ensure his financial interests do not conflict with needs of the American people. The American people need to be able to trust that the President’s decisions are based on the best interests of families at home, and not the President’s financial interests."

Previous president's have relinquished control over their assets or placed them in a blind trust while in office, Clark's office said.

Clark represents the 5th District of Massachusetts.

>>>Photo via Congresswoman Katherine Clark's official website