The House committee findings reported that Donald Trump said the hotel “brought him over $ 150 million in revenue during his tenure,” when in fact “… the records obtained by the committee show that the Trump hotel actually suffered net losses of more than $ 70 m, leading the former president’s holding company to inject at least $ 24 million to help the ailing hotel. ” Trump’s false reports of financial success are a major issue raised by the committee. “By filing these misleading public disclosures, President Trump has grossly exaggerated the financial health of the Trump Hotel,” he added. documents read. “He also appears to have concealed potential conflicts of interest arising not only from his ownership of this bankrupt company, but also from his roles as the hotel’s lender and guarantor of its loans to third parties.”
In response to the reports, a spokesperson for the Trump Organization called the findings “intentionally misleading, irresponsible and unequivocally false” (para. CNN) and said the committee “has a fundamental misunderstanding of basic accounting principles – including the difference between gross income and net income.” The statement went on to say, “Simply stated, this report is nothing more than continued political harassment in a desperate attempt to mislead the American public and vilify Trump in pursuing their own agenda.”
As the House committee examines Trump’s financial records, the public will be faced with even more context for the former president’s trade dealings during his tenure.