Clinton Foundation's income sees considerable fall after Hillary lost 2016 elections: Report
According to tax filings, contributions to the Clinton Foundation plunged from $63 million in 2016, to $27 million in 2017, after she lost the elections to President Donald Trump.
The Clinton Foundation reportedly noted a significant fall in the number of donations after former Secretary of State Hillary Clinton lost in the 2016 presidential elections. A new report has fuelled allegations from Republicans that the charity had been benefitting from a "pay to play" arrangement. According to tax filings, contributions to the Clinton Foundation plunged from $63 million in 2016, to $27 million in 2017, after she lost the elections to President Donald Trump. The New York Post reported that revenue from the speeches made by the Clintons also noted a fall, dropping from $3.6 million in the presidential election year to just $300,000 the following year.
Reports state that Goldman Sachs, UBS, Bank of America and Deutsche Banks were among the corporations paying for former president Bill Clinton and Hillary Clinton's speeches. Multiple media reports, during Clinton's campaign, had suggested that major corporate donors could be hoping for some favors in return.
The House Republicans, considering the tax filing report, have scheduled a hearing for December 5 to probe a Justice Department inquiry, which also includes the Clinton Foundation. The Justice Department inquiry was initially launched by former attorney general Jeff Sessions, who also sought for an investigation into alleged FBI misconduct.
House 'Freedom Caucus' chair Rep. Mark Meadows (R-N.C.), while talking to The Hill, said that it was time to "circle back" to the probe overseen by US Attorney John Huber. "Mr. Huber with the Department of Justice and FBI has been having an investigation — at least part of his task was to look at the Clinton Foundation and what may or may not have happened as it relates to improper activity with that charitable foundation, so we've set a hearing date for December the 5th," Meadows said.
Reports state that a drop in contributions could also partly be because the Clintons shut down the Clinton Global Initiative in August 2016 amid scrutiny. The initiative focused on development issues. "We anticipated a decline in both revenue and expenses for 2017, largely attributable to the absence of sponsorship and membership contributions for CGI," a spokesperson of the Clinton Foundation told the Post. "Moving forward to 2018, our work has expanded into new fields — for example, establishing a new CGI Action Network on Post-Disaster Recovery; beginning new work with faith leaders to help address the opioid epidemic, particularly focusing on issues of stigma; and forging new partnerships to promote early childhood literacy and development."