The disclosure will eventually provide the first look at the former president’s businesses since leaving the White House.
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Former President Donald J. Trump has so far failed to file personal financial disclosures with the Federal Election Commission despite multiple extensions.
Former President Donald J. Trump has a minor addition to his mounting pile of legal challenges after he failed to meet the deadline to disclose his personal financial holdings.
But the threatened initial penalty — a meager $200 — is the latest sign of how weak federal enforcement of campaign laws has become.
The personal financial disclosure will eventually provide the first look at Mr. Trump’s post-presidential businesses, including his holdings in Truth Social, the social media company he helped create.
“President Trump has significant financial holdings, and we have advised the Federal Election Commission that additional time is needed to file his financial disclosure report,” Steven Cheung, a spokesman for Mr. Trump, said in a statement.
Mr. Trump was warned that the fee could be imposed if he does not file within 30 days of the March 16 deadline, which is later this week, in a letter from the Federal Election Commission’s acting general counsel that denied his request for a third extension last month.
Meredith McGehee, a longtime campaign watchdog, said, “It’s very clear that former President Trump doesn’t feel the law applies to him and has spent much of his career hiring legal representation to delay and distract. This is in line with his general approach.”
She added that the lack of teeth on the disclosure law highlighted the weak position of federal enforcement. “They kind of wag their finger,” she said. “‘No we really, really mean it’ — and then generally nothing happens.”
But his other legal problems are far greater: His recent indictment in a hush-money case made him the first former American president to face criminal charges, and he is facing three other investigations.
Mr. Trump’s financial disclosures were closely tracked during his first White House run and his presidency, as they provided notable insights about the effect that holding office had on his wealth, even as income and assets were reported only in wide ranges.
The disclosures, for instance, showed how the pandemic affected his luxury hospitality businesses, and brought to light gifts that he received.
The disclosure law is part of corruption-fighting efforts that date back to the Watergate era.
Other politicians have sought to delay and game the disclosure requirements. Michael R. Bloomberg, the billionaire former mayor of New York City, notably announced his presidential campaign in November 2019 and then dropped out — after making two extension requests that he was legally entitled to — before the disclosure requirement kicked in.
Source: nytimes.com
