Opinion: Clarification is needed on the international transactions conducted by Jared Kushner and Hunter Biden.
The proposed legislation, dubbed the "Presidential Ethics Reform Act," requires present and future presidents, vice presidents, and their immediate families to disclose all foreign payments they receive, as well as notable gifts and loans. This move enhances financial transparency within the executive branch, addressing concerns that have gained significant importance in recent years.
Although the bill doesn't prevent such dealings from taking place, it does mandate disclosure. The risks associated with these financial entanglements are numerous. At the very least, these deals offer foreign governments a way to fund American politicians. Additionally, they enable officials of these nations to more easily access and lobby the president and their family members. Without any transparency, the American public is left ignorant about these transactions and what foreign governments may be gaining from them.
It's regretful that legislation like this is necessary. Until two centuries ago, there were minimal, if any, foreign funding connections to the White House or the president's family members, even after former presidents had left office. This trend began changing towards the end of the 20th century, with instances like President Jimmy Carter's brother, Billy Carter, lobbying on behalf of foreign regimes in places like Libya.
The number of these foreign entanglements increased throughout the 21st century. Following President Bill Clinton's departure from office in 2001, he and his wife, Hillary Clinton, established the Clinton Foundation, a nonprofit organization that soon began receiving millions of dollars from governments worldwide, including Saudi Arabia, Kuwait, Qatar, and Oman. Additionally, the organization received significant contributions from a Ukrainian oligarch and a Russian oligarch who is now subject to US sanctions.
These funds contributed to a boom in Clinton Foundation revenue when Hillary became Secretary of State. Conversely, revenue dropped significantly after her election loss in 2016.
Despite their protestations that these donations were not meant to curry favor with the Clintons, experts on government transparency identified a dubious pattern. "The fact that foundation donors had access to the Secretary of State, and that the foundation’s revenue spiked when she became Secretary of State and then fell after her 2016 election loss, isn't surprising," said Scott Amey, General Counsel at the Project on Government Oversight, a prominent anti-corruption watchdog. "It really looks like they were trying to gain favor with the potential future president."
While the George W. Bush and Barack Obama administrations largely avoided foreign financial entanglements, formers President Donald Trump brought the issue back into the spotlight, unlike any other president in American history. Without prejudice, here are some examples: Trump hosting Nigerian and Malaysian politicians at his Washington hotel, signing deals in places like Azerbaijan and Indonesia, and selling condos in Haiti and Congo-Brazzaville. Although some of these links were made public by Trump and his business partners, others, such as the Malaysian government's spending spree at his hotel during his presidency, only surfaced due to congressional investigations.
This bill satisfies both Democratic and Republican desires. Democratic Rep. Katie Porter and Republican Rep. James Comer, the cosponsors of the bill, likely authored it for distinct motives.
For Democrats like Porter, Trump's emergence as a political force reopened the issue of foreign funding to American politicians, their families, and their businesses. Given his political rise and the involvement of individuals like his son-in-law, Jared Kushner, it became increasingly apparent how damaging foreign funding could be. Kushner, following his tenure as a White House senior adviser, signed financial deals with the Serbian government along with national sovereign wealth funds in Saudi Arabia and the United Arab Emirates.
For Republicans like Comer, who is currently the chairman of the House Oversight Committee, this bill offers a chance to address their recent, unsuccessful attempt to impeach President Joe Biden. Although unsuccessful, this trial kept the business dealings of Biden's son, Hunter Biden, in the news.
Although Hunter was not an official public figure, his efforts mirrored Kushner's work with multiple foreign firms in countries like China and Ukraine. While there's no evidence he directly influenced his father's policy choices, he still capitalized on his relationships and family name to open new financial opportunities. This case highlights how easily family members of leading American politicians could exploit their connections.
Thankfully, bipartisan officials appear eager to address this issue. "These reforms will help restore Americans’ trust in government and strengthen our democracy," said Porter, and if passed, the era of foreign regimes trying to access and influence the White House and presidential family members may be behind us.
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The need for clarification on Jared Kushner's international transactions stems from various opinions about potential conflicts of interest. The proposed legislation aims to mitigate such concerns by promoting financial transparency, especially in light of the growing number of foreign entanglements involving American politicians and their families.
