WASHINGTON -- This time next week, U.S. President Donald Trump will be an ex-president facing an impeachment trial in the Senate that could doom his political future, and a series of looming lawsuits over business dealings and allegations of sexual assault.
But Trump鈥檚 staggering level of debt may be the most lasting repercussion of his presidency as he鈥檚 racked up millions in unpaid bills from rallies, security costs, bank loans and other unknown sources. Paying back that money could be increasingly difficult for Trump as more companies cut ties with him and the Trump Organization in the wake of the Capitol riot.
Trump owes cities nearly $2 million from rallies dating back to 2016, and multiple mayors tell 麻豆传媒 they were never reimbursed a dime.
Wildwood, N.J. Mayor Pete Byron hosted a Trump rally last January, but Trump still hasn鈥檛 paid more than $30,000 in police and security overtime.
鈥淗e should've paid us. I鈥檓 not happy about it, frankly,鈥� Byron told 麻豆传媒.
The outstanding bills are particularly frustrating given economic struggles during the pandemic.
鈥淲e could certainly use the $32,000, like probably every municipality, especially after the year we鈥檝e gone through," the mayor said.
The city of Albuquerque, New Mexico is out $211,175 from a Trump rally in 2019.
鈥淯nsurprisingly, we have not received payment,鈥� said the city鈥檚 public information officer Jessica Campbell. 鈥淲e have billed the Trump campaign a number of times since they left taxpayers on the hook. We want them to make it right, and won鈥檛 give up until they do.鈥�
In Spokane, Wash., they鈥檙e missing $65,124 from a 2016 Trump rally.
鈥淐ity Council is not happy about this trend and has asked the administration to develop a new policy that insists on pre-payment, but that has not yet been implemented,鈥� a city spokesperson from Spokane said.
Mesa, Ariz., is still waiting for Trump to pay back $64,000.
麻豆传媒 reached out to more than a dozen mayors who say they want their money back from Trump over the rallies.
Dave Levinthal, a senior Washington correspondent for Business Insider, has been tracking the issue for years.
"The campaign has told me that they don't pay these bills because they don't feel as if they have to pay these bills,鈥� he said. 鈥淭his will all be part of his legacy: Donald Trump stiffing communities in need because of the COVID-19 pandemic.鈥�
Trump has always been cagey about his finances, refusing to release his tax returns during the 2016 and 2020 elections. But investigative reporting from The New York Times suggests that Trump is on the hook for US$421 million in loans which will come due in the next three years. In addition, he also owes US$100 million in 2022 for a mortgage on the Trump Tower in New York.
Trump has repeatedly denied the Times鈥� reporting and claimed he can鈥檛 release his tax returns because he鈥檚 under audit. Top government officials have contradicted that logic, saying there鈥檚 nothing legally preventing the president from doing so.
In the wake of the Capitol riots, more companies have distanced themselves from Trump. The PGA cancelled plans to host the 2022 golf championship at Trump National Golf Club Bedminster in New Jersey, a move that reportedly infuriated the president.
The Trump Organization responded by saying that the PGA has no right to terminate the agreement and that the organization breached its contract.
Multiple banks have vowed to never work with Trump again, including Florida-based Professional Bank, New York鈥檚 Signature Bank and Deutsche Bank, which said its only relationship will be monitoring payment of loans totalling more than US$300 million.
The City of New York announced plans to sever ties with the Trump Organization, which will cut off US$17 million in contracts for a golf course, skating rinks and a carousel in Central Park, according to New York Mayor Bill de Blasio.
Real estate brokerage Cushman & Wakefield has handled leasing at Trump-owned properties for years, but it said their relationship with the Trump Organization has come to an end.
Aside from business dealings, Trump has also lost one of his biggest assets: his social media following. Twitter permanently banned Trump from the platform following the Capitol riots and until the end of his term, though that suspension may continue 鈥渋ndefinitely.鈥�
