Corporate donors to President Donald Trump’s White House ballroom and companies that have taken part in deals brokered by members of his family are expected to be among the first targets of congressional investigations. This is if Democrats win control of the House or Senate in November’s midterm elections, according to a report published on Monday by Reuters.
The agency drew on interviews with Capitol Hill staffers, lawmakers and attorneys. Winning either chamber would give Democrats subpoena power and funding to expand their investigative staff. That would let them open inquiries as early as February. This could set off lengthy legal battles that put the Trump family’s business empire in the spotlight.
The investigations could potentially shape the second half of Trump’s term. Over the past two years, the family has expanded into cryptocurrency, drones, artificial intelligence and prediction markets, while the president’s personal wealth has grown by an estimated $2.2 billion.
President Donald Trump at the 2024 BitcoinExpo held in Nashville, Tennessee. PHOTO: Brett Carlsen / Getty Images
At a Glance
- Trigger: Democratic control of the House or the Senate in November’s midterms
- Earliest Start: February
- Likely First Targets: Ballroom donors, participants in family-brokered deals, Trump-linked crypto firms, 1789 Capital
- Named Individuals: Donald Trump Jr., Jared Kushner
- Target Areas: Crypto, drones, AI, prediction markets
- Estimated Wealth Gain: $2.2 billion in two years
- White House Response: Called the plans obstruction and baseless targeting
- Republican Angle: Some Republicans may join the effort
Focus on The Family
Democrats have not settled on a final list of targets, but their attention is concentrating on the president’s relatives. Donald Trump Jr. is a leading focus. He has struck a flurry of profitable deals since his father won the 2024 election. He is now a venture capitalist at a firm managing several billion dollars. Trump-linked crypto firms and Trump Jr.’s 1789 Capital rank high on the list of likely subjects.
Sen. Adam Schiff, a California Democrat, said the First Family has been making money “hand over fist.” He also argued that everything in the administration is effectively for sale, pointing to Yosemite National Park as an example of a national treasure at risk.
Rep. Jamie Raskin, who could chair the powerful House Judiciary Committee if Democrats take the chamber, singled out Jared Kushner, the president’s son-in-law. Kushner is a corporate executive lawmakers “absolutely” need to hear from, Raskin said.
He pointed to deals Kushner secured with Saudi Arabia, Qatar, and the United Arab Emirates while serving as a presidential envoy, which he called an outrageous conflict of interest. Kushner is a US special envoy for peace but not a government employee.
In the Senate, Sen. Richard Blumenthal, who is in line to lead an investigations panel, said Democrats would use their subpoena power if they win control in November. Schiff added that Congress has other leverage. Its authority over agency funding, he said, means the administration risks trouble if it stonewalls legitimate oversight requests.
Companies Bracing for Impact
Businesses with ties to Trump and his family are not waiting for the election results. Reports suggest that they are conducting urgent preparations. These preparations include hiring law firms to carry out internal audits and crisis communications firms to manage public messaging. Some companies are already referring information requests to the White House.
Alexandra Ulmer, US national affairs correspondent for Reuters, said in a video report that roughly a dozen lawyers and several crisis communications specialists told the agency they had not seen corporate clients this worried in some time. Companies are combing through their records to locate potential liabilities, retaining major law firms and running risk audits to see where they are exposed.
Subpoenas could be possible as early as February next year. That would put firms in a difficult position. They would face pressure from Congress to hand over documents the White House probably would prefer to keep private.
Ulmer added that the prospect of congressional inquiry may potentially slow the Trump family’s deal-making or spook potential partners and financiers. It is too early to say, she said, but the environment is likely to be far more scrutinizing than it is today.
White House Pushes Back with Some Republicans Open to Oversight
The White House rejected the premise of the planned probes. Spokeswoman Olivia Wales said in an emailed statement that Democrats have no agenda to improve Americans’ lives and instead plan to obstruct and baselessly target the president’s agenda.
The push may not be entirely partisan. Reuters reports that some Republicans could join Democratic efforts. Republican Sen. John Curtis has previously argued that the commercial activities of a president’s family should face consistent congressional oversight.
What Comes Next?
The scale of any investigation will depend on whether Democrats win one chamber or both. The House gives them broad committee and subpoena authority. The Senate would add a second front, though a Senate takeover is generally considered the harder task.
For now, the planning is happening on both sides of the aisle and in corporate boardrooms. Democrats are sketching out their priorities, and the companies that could end up in their sights are preparing their defenses, months before a single ballot is cast.
