Documents discovered by the House Oversight Committee utterly discredit the Biden White House's defense of the $200,000 payment made by James Biden, the brother of President Biden. James Comer, chairman of the committee, has requested in a letter to the White House counsel that President Biden furnish loan documentation and IRS filings pertaining to the loan. Comer argues that President Biden gained from his family capitalizing on the Biden name, irrespective of whether the benefit was a loan repayment or not.
🚨🚨 JUST IN: New Records Blow Hole In Biden's Defense Of $200K Bank Transferhttps://t.co/N3VyO97CyJ
— 🇺🇸🇺🇸Josh Dunlap🇺🇲🇺🇲 ULTRA-MAGA (@JDunlap1974) October 26, 2023
In response, the White House attempted to deflect the allegations and implied that Comer was attempting to divert attention away from the campaign for speaker. Ian Sams, a spokesman for the White House, disregarded the concerns, stating that it was a repayment of a loan from 2018—a loan that President Biden made to his brother. Comer notes, however, that interest should have been paid on the loan if it were one, and that no supporting documentation exists to substantiate this claim.
🚨 BREAKING 🚨@RepJamesComer calls on President Biden to prove that the $200,000 he received from his brother was a loan and that all applicable IRS filings were properly made.
Whether or not the $200,000 check to Joe Biden was a loan repayment, he benefited from his family… pic.twitter.com/xHSep0O0su
— Oversight Committee (@GOPoversight) October 26, 2023
Jamie Comer is pretty desperate to try to distract from Republicans’ speaker mess.
It’s a loan repayment from when President Biden loaned his brother money. When he was out of office in 2018, no less. It’s right there on the check!
Matt Gaetz was right:
More “Failure Theater!” pic.twitter.com/Do0DopiX8r
— Ian Sams (@IanSams46) October 20, 2023
There are substantial incoming transactions from various entities into the personal accounts of James and Sara Biden, according to records obtained by the Committee; however, none of the records suggest that Joe Biden made a substantial loan payment to his brother. Comer argues that it is still troubling that President Biden's ability to be repaid was contingent on his family's dubious financial transactions, even if it was for a personal loan repayment.
Further evidence presented to the Committee indicates that James Biden obtained loans totaling $600,000 from Americore, a rural hospital operator that was experiencing financial distress and failure. On the premise that James Biden's surname, "Biden," could secure a substantial investment from the Middle East, these loans were made possible. Americore deposited a $200,000 loan into the personal bank account of James and Sara Biden on March 1, 2018. Concurrently, Joe Biden received a $200,000 check from James Biden drawn from that account. The evidence suggests that President Biden's family has been benefiting monetarily from their family name, regardless of whether it was a loan or not.