New Trump financial disclosure gives glimpse into pre-pandemic business income – POLITICO

The Trump International Hotel in Washington, which has become a prime meeting spot for administration officials and a source of controversy since opening in 2016, reported $40.5 million in revenue compared with the previous year’s income of $40.8 million.

However, revenues at Mar-a-Lago, the Florida resort Trump has frequented during the course of his presidency, dipped to $21.4 million in 2019, a drop of more than $1 million — or 5 percent — from $22.6 million in the previous year.

The disclosure indicates that Trump had a minimum income of more than $440 million. Disclosures for Trump’s daughter and son-in-law, Ivanka and Jared Kushner, were also released Friday, showing the White House advisers reported at least $36 million in income.

The 78-page disclosure, which is required to be reported every year under federal ethics rules, provides a glimpse into the president’s debts and how his properties are performing. Because the disclosure is for income generated in the previous year, it does not show the coronavirus’ impact on Trump’s properties and investments.

Trump’s properties have not escaped the pandemic’s deleterious effects, with many forced to close temporarily and lay off workers.

The disclosure was originally due in May, but the White House received two 45-day extensions as Trump addressed the coronavirus crisis. A White House memorandum released in April stated that there was “good cause” to grant the extension.

Ethics officials and watchdog groups have long raised concerns that Trump is profiting from his role as commander in chief.

The president, unlike his predecessors, has refused to release his tax returns, often claiming that he’s under audit. Earlier this month, the Supreme Court delivered a split-decision on Trump’s personal financial records, blocking congressional investigators from accessing the tax documents but rejecting his claim of “absolute” immunity.

Anita Kumar contributed to this report.

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