As concerns over potential financial conflicts of interest reignite, an ethics watchdog group is urging Congress to implement sweeping reforms aimed at curbing any potential ethical breaches should former President Donald Trump return to office. Citizens for Responsibility and Ethics in Washington (CREW) published a report Wednesday warning that without decisive action, Trump's businesses could pose significant national security risks.

Trump's Business Interests Under Scrutiny Again

CREW's report outlines Trump's unwillingness to fully divest from his sprawling business empire, even as he shed his controversial Washington, D.C., hotel. The report emphasizes that Trump's stake in various ventures still poses a threat. "Given the past challenges enforcing the emoluments clauses, and the intensifying national security threats posed by Trump's new financial conflicts, Congress should pass legislation to make it simpler to enforce these clauses," the report stated.

The emoluments clause, embedded in the Constitution, prohibits federal officeholders from receiving gifts from foreign powers. According to CREW, Trump's refusal to completely cut ties with his businesses sets the stage for a repeat of the ethics scandals that marred his first term.

Congress to Address Trump Financial Conflicts : Proposed Legislation to Safeguard National Security

The watchdog’s proposed legislation calls for mandatory divestiture from all assets that could breach the emoluments clause unless Congress explicitly consents. It also seeks to empower the Office of Special Counsel to investigate potential violations and would allow federal and state courts to act on emoluments issues involving sitting presidents.

Interestingly, the push for reform isn't limited to party lines. Reps. Katie Porter, D-Calif., and James Comer, R-Ky., introduced a bipartisan bill that echoes some of CREW's recommendations, though its scope is more limited.

Trump's Stake in Truth Social Raises Questions

Trump’s continued involvement in his publicly traded Trump Media & Technology Group, which owns the social media platform Truth Social, also raises compliance challenges. CREW warns that any substantial purchase of Trump’s stock by foreign or domestic governments could raise new emoluments concerns. Additionally, the platform’s use for government communications or sales of advertising would present fresh ethical dilemmas.

Congress to Address Trump Financial Conflicts : Foreign Payments Under the Microscope

Earlier this year, Democrats on the House Oversight and Accountability Committee released findings suggesting that Trump’s businesses received at least $7.8 million in foreign payments during his presidency. These payments came from more than 20 countries and have reignited questions about potential conflicts of interest while he held office. The Trump Organization dismissed the allegations as baseless, accusing Democrats of trying to divert attention from what they called "a major political scandal" involving Hunter Biden’s business dealings.

With Election Day looming and Trump eyeing another term, the clock is ticking for Congress to take meaningful action on these pressing ethical concerns.