1. United States
2. Pa.
3. Letter

When a sitting president maintains significant personal financial interests while exercising regulatory and executive authority, it creates a serious and costly problem for the American public. Recent reporting has shown that President Trump continues to hold and acquire substantial financial assets while in office, including investments connected to industries and companies subject to federal regulation, merger review, or executive influence. Even when transactions are handled through intermediaries, the appearance of a conflict alone carries real consequences. Markets respond to presidential statements. Regulatory agencies respond to presidential priorities. When the president stands to benefit financially—directly or indirectly—from government action, public confidence in fair governance erodes. That erosion has a price: higher borrowing costs, market instability, legal challenges, and a growing belief that policy is shaped by private gain rather than public good. Taxpayers ultimately absorb these costs. We pay when regulatory credibility weakens. We pay when agencies are forced into litigation. We pay when corruption concerns increase volatility and drive up the cost of doing business in the United States. And we pay when Congress fails to enforce clear ethical boundaries at the highest levels of government. This is not a partisan concern. Ethical safeguards exist precisely to protect presidents from temptation and the public from exploitation. Prior administrations of both parties took steps—through divestment, blind trusts, or full separation—to avoid even the appearance of self-dealing. Congress has both the authority and responsibility to conduct oversight, strengthen disclosure requirements, and ensure that no president is permitted to govern while financially entangled with the outcomes of their own decisions. Allowing this to continue sets a precedent that future administrations—of any party—will exploit. Public office should never be a profit center. Restoring clear ethical lines is essential to protecting taxpayers, markets, and the legitimacy of American government itself.