Trump budget calls for cuts to housing aid except for subsidy that benefits Trump holding

Trump budget calls for cuts to housing aid except for subsidy that benefits Trump holding
© Getty Images

President TrumpDonald John TrumpTrump: WHCA picking non-comedian for headliner a 'good first step' Five takeaways from Mississippi's Senate debate Watergate’s John Dean: Nixon would tell Trump 'he's going too far' MORE's budget proposal would cut funding for housing aid except for a federal subsidy paid to private landlords, The Washington Post reported Tuesday.

Trump stands to benefit personally from such a subsidy. He owns a 4 percent stake in Starrett City, the largest subsidized housing project in the country. Between January 2016 and April 2017, Trump made at least $5 million from the complex, according to the Post.

Trump and his siblings inherited their shares in the complex from their father, Fred Trump.

ADVERTISEMENT

“Upon Fred Trump’s death, his four children inherited his interests,” Starrett City Associates spokesman Bob Liff said in a statement to the Post. “There’s been no change, except that Donald Trump’s holding was placed in a revocable trust upon becoming president.”

The complex contains 46 buildings and more than 5,800 units and is home to nearly 15,000 people. Since May 2013, the housing complex has received $490 million in rent subsidies. 

While it's not clear if Trump played a direct role in calling to keep the subsidy payments to private landlords, the president's stake in Starrett City shows how his business interests can bleed into his government role.

Trump has repeatedly faced scrutiny for his potential conflicts of interest. He has refused to divest himself of his assets, and while his two elder sons manage his business, Trump retains ownership of the company.