President Donald Trump attacked the U.S. Constitution’s Emolument’s Clause on Tuesday calling it “phony” while answering press questions about his decision not to host the G-7 Summit at his private golf resort Doral in Miami. The Emoluments Clause prohibits presidents from taking income outside of their salaries.

The Administration announced Thursday that Trump had chosen Doral for the annual world summit, and then on Saturday, Trump reversed himself after a public outcry. 

Trump claimed that he has lost a huge amount of money by being president. He said, without substantiation, that he has lost between $2 billion to $5 billion in new business due to his position.

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Trump claimed that he would not have profited from hosting the G-7 at his Doral golf club, but ethics watchdogs noted that it would be illegal for the president to award himself such a large contract.

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