President Donald Trump is expected to devote increasing attention to his proposed presidential library during the final two years of his administration, as Democrats prepare to take control of Congress and launch investigations into the project's financing and potential conflicts of interest.

Current and former administration advisers told CBS News that Trump is likely to focus on projects he can advance without congressional approval following the Democrats' sweeping victories in the November 3 midterm elections. One senior administration official said Trump recognizes that the period for developing the library has arrived and intends to pursue it. Another official described the president's approach as concentrating on “all things he can control, which means: Building.”

Trump has proposed an ambitious 47-story tower in downtown Miami, with renderings released in March featuring golden escalators, a full-size Air Force One and a massive statue depicting him raising his fist after surviving the July 2024 assassination attempt in Butler, Pennsylvania. However, Trump has also suggested the building could become a luxury hotel rather than a traditional presidential library, saying he does not believe in building libraries or museums.

The project is being funded through the Donald J. Trump Presidential Library Foundation, a Florida nonprofit overseen by Trump's son Eric Trump and son-in-law Michael Boulos. In an October 2025 application to the Internal Revenue Service, the foundation projected raising $950 million by the end of 2027, including $600 million during 2027 alone. Those figures are fundraising projections, not money the foundation has already collected.

The project has already attracted substantial contributions connected to legal settlements involving companies that previously faced litigation from Trump. ABC News agreed to direct $15 million toward the library as part of a settlement involving a defamation lawsuit over comments made by anchor George Stephanopoulos. Meta designated $22 million for the project following a settlement over the suspension of Trump's social media accounts, while Paramount agreed to a $16 million settlement involving the editing of a 2024 interview with then-Vice President Kamala Harris. Elon Musk's X also paid $10 million to settle litigation involving Trump.

The foundation has received other major contributions as well. Japanese investment giant SoftBank gave $50 million in January toward an exhibit highlighting U.S.-Japan relations, according to information the company provided to Congress. The donation has drawn additional attention because the Trump administration later announced a federal land lease for a data center project involving a SoftBank subsidiary. The Energy Department said the lease agreement was signed after the donation, while also noting that the development had been proposed before SoftBank acquired the lease rights.

The foundation's fundraising activities are expected to face increased congressional scrutiny when Democrats assume control in January. With majorities in both the House and Senate, Democrats will have expanded authority to conduct investigations, issue subpoenas and compel testimony. Rep. Robert Garcia of California, the top Democrat on the House Oversight Committee, warned the administration to “Lawyer up” following the election results.

Sen. Elizabeth Warren, D-Mass., has also pledged to investigate contributions from corporations and foreign interests, arguing that donors should not be able to use library contributions to gain political influence. Warren told CBS News that she intends to examine the project's finances and hold anyone accountable if wrongdoing is uncovered.

The White House has rejected suggestions of impropriety and defended the project. Spokesman Davis Ingle described the proposed library as one of the world's most magnificent buildings and a lasting testament to Trump's impact on the country. The foundation did not respond to CBS News' questions about several aspects of the project, including whether the president's son Eric Trump would receive compensation for his role. Its IRS application projected compensation expenses rising to $1.2 million in 2027, although the foundation's bylaws prohibit payments to trustees.

The proposed development also faces a federal lawsuit challenging Florida's decision to transfer a 2.63-acre property in downtown Miami to the project. The parcel, formerly used as a Miami Dade College parking lot, was appraised at more than $67 million, although the plaintiffs argue its market value could exceed $300 million. They contend that transferring the property to benefit the president violates a constitutional provision prohibiting states from providing financial benefits to the president.

The lawsuit has raised additional questions about whether the site will actually be used for a traditional presidential library. Florida's terms require the property to include components of a presidential library, museum or center within five years, but do not explicitly prohibit a hotel. Trump has publicly suggested that a hotel could be the primary use of the building.

A federal judge halted discovery in September while considering arguments to dismiss the lawsuit, including the Justice Department's position that Trump is immune from the claims. The case remains unresolved, and the plaintiffs' attorney has indicated they could appeal if the lawsuit is dismissed.

Fundraising for the project is being led by veteran Trump fundraiser Meredith O'Rourke. The foundation has said it expects to submit additional financial disclosures covering its 2025 fiscal year by November 15, potentially providing further information about its finances and fundraising operations as the project moves forward.