CREW calls for investigation of Ivanka Trump’s involvement with Opportunity Zones
Ivanka Trump appears to have violated federal conflict of interest law by personally and substantially participating in the Trump administration’s implementation of a new tax law authorizing the Opportunity Zones program while her husband, Jared Kushner, held financial interests worth millions of dollars in an entity benefitting from that program. CREW filed complaint Department of Justice requesting an investigation.
Under the law, executive branch employees are prohibited from participating “personally and substantially” in matters that have a direct and predictable effect on a financial interest of the employee or their spouse. Trump directly worked on the implementation of the Opportunity Zones program in 2018, including multiple events at the White House and in behind-the-scenes work with relevant officials. During this time, Kushner held significant financial interests in Cadre, a company that offers investment vehicles under the Opportunity Zones program.
Trump’s financial disclosure report reveals that she entered the government with financial interests in Cadre worth between $5,000,000 and $25,000,000. Her newest financial disclosure report shows that the value has grown to $25,000,001-$50,000,000 during her time in government. In that report, Trump specifically acknowledged the need to recuse “from particular matters in the broker-dealer, real estate, and online financial services sectors to the extent they would have a direct and predictable effect on Cadre.”