Key facts
- Democrats plan to investigate Trump's alleged self-enrichment schemes.
- Treasury Secretary Scott Bessent is a target of potential investigations.
- Probes would focus on the IRS deal to spare Trump from tax audits.
- Banking charter approval for a Trump cryptocurrency business arm is under scrutiny.
Democratic lawmakers are preparing to launch investigations into Treasury Secretary Scott Bessent and alleged self-enrichment schemes by President Donald Trump should they regain control of Congress after the upcoming midterm elections. The focus would be on whether officials used their authority to benefit the president, his family, and their business interests.
According to people with direct knowledge of the Democrats' plans, potential targets include the IRS's May decision to exempt Trump and his family from tax audits, preliminary approval of a banking charter for a cryptocurrency business arm, the use of tax data for deportation efforts, and the dismantling of the Consumer Financial Protection Bureau.
Winning back the House or Senate would provide Democrats with increased staff and subpoena power to demand records and testimony related to these matters.