federal Funds!

Trump Jr.'s firm invested in a rare earth startup. Three months later, his father's Pentagon gave that company $620 million — the largest loan in the Office of Strategic Capital's history. No competitive bidding. No independent review. A congresswoman moved to subpoena him. Republicans shut the hearing down. Democrats moved to subpoena Donald Trump Jr. on March 25 over $670 million in federal funds awarded to a company his venture capital firm had invested in just three months earlier. Republicans on the House Natural Resources Subcommittee blocked the motion 5-2 and shut down the hearing. Rep. Lauren Boebert moved to adjourn. Chairman Paul Gosar called a recess before the vote. Trump Jr. is a partner at 1789 Capital, which invested in Vulcan Elements, a North Carolina rare earth magnet startup. In December 2025, the Pentagon's Office of Strategic Capital issued Vulcan a $620 million loan — the largest in the office's history — plus $50 million in equity. Rep. Maxine Dexter said the deal bypassed competitive procurement and an independent technical review after Trump's executive order on minerals waived that requirement. No public record of any conflict-of-interest review or financial disclosure tied to Trump Jr.'s stake exists. Dexter said: "Donald Trump Jr. must be made to answer whether the president's son illegally profited from his father's presidency." Rep. Jared Huffman backed the subpoena. Democrats noted that at least four companies in 1789 Capital's portfolio received over $735 million in federal contracts in 2025. Trump Jr. and Vulcan deny any White House connection to the funding. The Pentagon says Trump Jr. was not involved in loan discussions. The administration has not responded to a February letter demanding documents on the deals. The move drew immediate comparisons to the Republican-led Hunter Biden investigation, which lasted two years and resulted in a contempt of Congress vote. Then-Chairman James Comer had declared that a president's "participation in enriching his family is, in a word, abuse of the highest order." Democrats quoted his words back during the hearing. Republicans voted to end it.