{"id":3644,"date":"2026-09-06T08:07:11","date_gmt":"2026-09-06T08:07:11","guid":{"rendered":"https:\/\/modernhomejournals.com\/?p=3644"},"modified":"2026-09-06T08:07:11","modified_gmt":"2026-09-06T08:07:11","slug":"rep-jamie-raskin-opens-investigation-into-howard-lutnick-and-his-former-firms-tariff-dealings","status":"publish","type":"post","link":"https:\/\/modernhomejournals.com\/?p=3644","title":{"rendered":"Rep. Jamie Raskin Opens Investigation Into Howard Lutnick and His Former Firm\u2019s Tariff Dealings"},"content":{"rendered":"<div>\n<div>\n<\/div>\n<div>\n<p>The top Democrat on the House Judiciary Committee has opened an investigation into potential conflicts of interest between Commerce Secretary Howard Lutnick and his former firm, Cantor Fitzgerald, following the Supreme Court\u2019s decision on the legality of President Donald Trump\u2019s emergency tariffs.<\/p><p>Read more <a href=\"https:\/\/modernhomejournals.com\/?p=3642\">Trump\u2019s Super PAC Drops $10 Million in Texas Senate Race<\/a><\/p><p>In a  exclusively obtained by NOTUS and sent Friday to the commerce secretary and his son, Cantor Fitzgerald Chair Brandon Lutnick, Rep. Jamie Raskin of Maryland pressed the Lutnicks on the firm\u2019s alleged conflicts of interest.<\/p>\n<p>\u201c[W]hile you were championing these illegal tariffs and telling the American public to \u2018rest assured, tariffs are not going away,\u2019 your son Brandon Lutnick\u2014as your immediate successor as chairman of your former firm Cantor Fitzgerald\u2014was reportedly betting millions of dollars that they would be struck down by the courts,\u201d Raskin wrote. \u201cNow that the Supreme Court has finally rejected President Trump\u2019s brazen and unlawful power grab, the firm reportedly stands to make extraordinary profits of millions of dollars at the expense of American taxpayers.\u201d<\/p><p>\u201cThis arrangement raises significant ethical, legal, and policy questions that demand a full public accounting,\u201d Raskin added.<\/p>\n<section>\n<div>\n<h2>\n<span>Trending<\/span>\n<\/h2>\n<\/div>\n<div>\n<div>\n<ul>\n<li>\n<div>\n<div>\n<div>\n<div>\n\n<figure class=\"wp-block-image size-large\">\n<figure class=\"wp-block-image size-medium_large\"><img loading=\"lazy\" decoding=\"async\" alt=\"pregnancy\" class=\"wp-image-3594\" height=\"512\" src=\"https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/09\/f6f47c9b4613c714f53a757e20e32809-768x512.jpg\" width=\"768\" srcset=\"https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/09\/f6f47c9b4613c714f53a757e20e32809-768x512.jpg 768w, https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/09\/f6f47c9b4613c714f53a757e20e32809-300x200.jpg 300w, https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/09\/f6f47c9b4613c714f53a757e20e32809.jpg 1024w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/figure>\n<\/figure>\n\n<\/div>\n<\/div>\n<\/div>\n<div><h3>\n<span>\n                      HHS Cancels Infant Mortality, Postpartum Grants to Focus on Sperm Counts, ED\n                    <\/span>\n<\/h3><\/div>\n<\/div>\n<\/li>\n<li>\n<div>\n<div>\n<div>\n<div>\n\n<figure class=\"wp-block-image size-large\">\n<figure class=\"wp-block-image size-medium_large\"><img loading=\"lazy\" decoding=\"async\" alt=\"Trump arch AP - 26185088891653\" class=\"wp-image-3530\" height=\"512\" src=\"https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/09\/ed0de0082a8dcf1bee9deeeb7d3539ae-768x512.jpg\" width=\"768\" srcset=\"https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/09\/ed0de0082a8dcf1bee9deeeb7d3539ae-768x512.jpg 768w, https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/09\/ed0de0082a8dcf1bee9deeeb7d3539ae-300x200.jpg 300w, https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/09\/ed0de0082a8dcf1bee9deeeb7d3539ae.jpg 1024w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/figure>\n<\/figure>\n\n<\/div>\n<\/div>\n<\/div>\n<div><h3>\n<span>\n                      Judge Says Trump Administration Must Provide 48 Hours\u2019 Notice Before Arch Construction\n                    <\/span>\n<\/h3><\/div>\n<\/div>\n<\/li>\n<li>\n<div>\n<div>\n<div>\n<div>\n\n<figure class=\"wp-block-image size-large\">\n<figure class=\"wp-block-image size-medium_large\"><img loading=\"lazy\" decoding=\"async\" alt=\"Burgum\" class=\"wp-image-3118\" height=\"506\" src=\"https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/08\/d7b533497f5a2b88073ac38e5e25d585-768x506.jpg\" width=\"768\" srcset=\"https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/08\/d7b533497f5a2b88073ac38e5e25d585-768x506.jpg 768w, https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/08\/d7b533497f5a2b88073ac38e5e25d585-300x198.jpg 300w, https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/08\/d7b533497f5a2b88073ac38e5e25d585.jpg 1024w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/figure>\n<\/figure>\n\n<\/div>\n<\/div>\n<\/div>\n<div><h3>\n<span>\n                      Trump Is Quietly Working to Give Part of Yosemite to a Private Developer\n                    <\/span>\n<\/h3><\/div>\n<\/div>\n<\/li>\n<li>\n<div>\n<div>\n<div>\n<div>\n\n<figure class=\"wp-block-image size-large\">\n<figure class=\"wp-block-image size-medium_large\"><img loading=\"lazy\" decoding=\"async\" alt=\"President Donald Trump announces action to help farmers and ranchers\" class=\"wp-image-3599\" height=\"512\" src=\"https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/09\/63c81890bbc9fa501c619e21a106e89f-768x512.jpg\" width=\"768\" srcset=\"https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/09\/63c81890bbc9fa501c619e21a106e89f-768x512.jpg 768w, https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/09\/63c81890bbc9fa501c619e21a106e89f-300x200.jpg 300w, https:\/\/modernhomejournals.com\/wp-content\/uploads\/2026\/09\/63c81890bbc9fa501c619e21a106e89f.jpg 1024w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><\/figure>\n<\/figure>\n\n<\/div>\n<\/div>\n<\/div>\n<div><h3>\n<span>\n                      Trump Signs Order to Help Ranchers Bypass USDA-Inspected Processing Facilities\n                    <\/span>\n<\/h3><\/div>\n<\/div>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/section>\n<p>The congressman\u2019s letter asked for all communications and documents between the commerce secretary and any representative of Cantor Fitzgerald, along with all internal analyses and legal opinions on Trump\u2019s tariff policy, by March 9.<\/p><p>Before being appointed to Trump\u2019s Cabinet, Howard Lutnick served as chair and CEO of the financial services firm. Though he resigned from his role upon assuming office, the company is now <span><u>led in part<\/u><\/span> by two of his sons.<\/p><p>Multiple Democrats have expressed concern about a conflict of interest.<\/p><p>And they are apparently not the only ones: <span><u>Politico<\/u><\/span> reported Thursday that Trump personally confronted Howard Lutnick at Mar-a-Largo in late December upon learning that the secretary\u2019s family business saw a 25% revenue increase in 2025, to the tune of <span><u>$2.5 billion<\/u><\/span>.<\/p>\n<p>As the minority party, Democrats\u2019 oversight powers are <span><u>limited<\/u><\/span>. While minority members can send letters like the one Raskin has sent the Lutnicks, minority members cannot unilaterally initiate hearings or issue subpoenas.<\/p><p>But Democrats have a chance to retake the House in the 2026 midterms. And if they win the majority, they are <span><u>expected to ramp up<\/u><\/span> oversight authority actions, including investigations targeting Trump and his inner circle.<\/p><p>In a statement following publication, Cantor Fitzgerald told NOTUS: \u201cCantor Fitzgerald has never executed any transactions or taken any position on tariffs refund claims. In July 2025, certain Cantor salespeople explored brokering tariff trades, but Cantor never executed any transactions. All reports to the contrary are false. We will reiterate these points in our response to Ranking Member Raskin.\u201d<\/p><p>Read more <a href=\"https:\/\/modernhomejournals.com\/?p=3638\">Kennedy Center Renews Call for Shutdown After Ceiling Collapses<\/a><\/p><p>The Department of Commerce did not responded to a request for comment on the new investigation.<\/p><p>In the letter, Raskin referenced a report by <span><u>Wired<\/u><\/span> detailing how Cantor Fitzgerald offered to purchase importers\u2019 tariff refund claims at a significant discount, providing cash in exchange for the right to collect the full value of the refund if the Supreme Court invalidated the tariff policy. Wired reported that the company had completed at least one such trade worth $10 million.<\/p><p>Considering Cantor Fitzgerald\u2019s negotiations came at the same time the company\u2019s former chair, Howard Lutnick, served as the \u201carchitect\u201d of Trump\u2019s tariff policy, concerns about insider trading have arisen.<\/p>\n<p>\u201cYou participated in the losing strategy of bypassing Congress to unilaterally impose these tariffs and thus have an insider\u2019s view of the tariffs\u2019 profound legal vulnerability, the Administration\u2019s weak litigation hand, and the prospects that the tariffs would be struck down\u2014extraordinarily valuable and material nonpublic information to anyone betting against the tariffs\u2019 legality and seeking to profit from their invalidation,\u201d Raskin wrote. \u201cThat potential conflict of interest raises some troubling questions of federal ethics and insider trading.\u201d<\/p><p>Cantor Fitzgerald denied Wired\u2019s reporting in a statement to <span><u>Newsweek<\/u><\/span> and wrote that it had \u201cnever executed any transactions or taken risk on the legality of tariffs.\u201d<\/p><p>Raskin said, in the letter, that this denial \u201ccompounded the public concern.\u201d<\/p><p>On Feb. 20, the Supreme Court <span><u>ruled 6-3<\/u><\/span> that the president does not have the authority to impose sweeping tariffs under the International Emergency Economic Powers Act.<\/p><p>Trump, over the weekend, posted on Truth Social that the ruling was a \u201cridiculous, poorly written, and extraordinarily anti-American decision\u201d before announcing additional temporary tariffs.<\/p><p>Just hours after the decision was released, Trump announced that he would press ahead with an alternative 10% global tariff, this time justified under  of the Trade Act of 1974.<\/p><p><i>This article has been updated to include post-publication comment from Cantor Fitzgerald.<\/i><\/p><p>Read more <a href=\"https:\/\/modernhomejournals.com\/?p=3635\">Judge Says Trump Administration Must Provide 48 Hours\u2019 Notice Before Arch Construction<\/a><\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Before being appointed to Trump\u2019s Cabinet as commerce secretary, Lutnick served as CEO of the financial services firm Cantor Fitzgerald<\/p>\n","protected":false},"author":1,"featured_media":3643,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-3644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-congress"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rep. Jamie Raskin Opens Investigation Into Howard Lutnick and His Former Firm\u2019s Tariff Dealings - Modern Home Journals<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/modernhomejournals.com\/?p=3644\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rep. 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