On January 9, 2017, Senator Elizabeth Warren, D-Mass., introduced the Presidential Conflicts of Interest Act of 2017 that, if passed, would require the President, Vice-President, spouses and minor or dependent children to divest themselves of all interests that may or will create financial conflicts of interest.
The law would require that those assets be placed into a blind trust that would be managed by an independent Trustee who would sell all of those assets and place the proceeds in conflict-free holdings. The law would also require the disclosure of tax return information from the President and any future Presidential candidates.
The legislation would also bar Presidential appointees from participating in matters that directly involve the financial interests of the President, the President’s spouse or businesses controlled by either or both of them. The purpose of this legislation is to provide clarity and transparency regarding the President’s investments, along with his spouse, family members and Presidential appointees, to ensure that there is no self-dealing.
We believe that this legislation is good for our country. What do you think?
Are you in trouble with the IRS? You need a tax attorney! Contact Chicago tax lawyer Patrick T. Sheehan & Associates today.
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