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The former New York City mayor has been under investigation for years by federal authorities, who have been looking into his business dealings in Ukraine.
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The Republican believes the President had the right to violate the law by freezing the funds
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A New York businessman has helped Rudy Giuliani promote an unsubstantiated theory of corruption in Ukraine by Joe Biden, ahead of next year's presidential election.
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Reed's statement came after the release of a summary of a call between Trump and Ukraine president Volodymyr Zelensky.
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Ukrainian elections have also been turbulent, rife with voter intimidation and even claims by then-president Viktor Yushchenko in 2004 that he had been deliberately poisoned.