Sen. Elizabeth Warren (D-Mass.) said on social media that Donald Trump and his transition team are “already breaking the law.”
What Happened: The Massachusetts senator said “Incoming presidents are required to prevent conflicts of interest and sign an ethics agreement.” She shared a report from CNN which stated that President-elect Donald Trump has yet to sign a series of transition agreements with the Biden administration, causing concerns over the mandatory ethics pledge.
Warren said she knew Trump was breaking the law because she “wrote the law.”
According to CNN, the delay in signing the transition agreements has prevented Trump’s team from accessing crucial briefings from the Biden administration. The delay is reportedly due to concerns about the ethics pledge, a mandatory agreement under the Presidential Transition Act aimed at preventing conflicts of interest. This pledge applies to all members of the transition team.
Trump’s team has missed two critical deadlines to initiate transition activities with the Biden administration’s General Services Administration and the White House, raising concerns about national security preparedness on Day 1.
Despite warnings from nonpartisan watchdogs and Democrats about potential risks to national security, an adviser to Trump downplayed the missed deadlines, stating it is “not at all a concern.” The adviser also confirmed that Trump intends to sign the ethics pledge but did not provide a timeline.
Why It Matters: During his previous presidency, Trump faced criticism over potential conflicts of interest related to his businesses and brands, as well as his and his family’s foreign business ties. Trump’s stake in Trump Media & Technology Group DJT and his upcoming cryptocurrency venture have raised concerns about potential conflicts of interest if he returns to the White House.
Trump owns 115 million shares of Trump Media, which puts his investment at nearly $3.7 billion, according to a Benzinga report. The stock has been on a tear since his election as the 47th president. The shares closed 4.7% higher at $33.41 on Monday, according to data from Benzinga Pro.
Trump turned to Wall Street veterans, including Howard Lutnick, Scott Bessent, and John Paulson, for guidance on forming his administration. Key advisors advocated for policies like gradual tariff implementation, tax cuts, and deregulation, signaling potential pro-business shifts. The stock market responded positively, suggesting investor optimism for Trump's anticipated economic strategies.
Photo courtesy: Shutterstock
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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