House GOP Chairman Releases ‘Tax Focus’ of Biden Impeachment Inquiry

By Robert Cunningham, updated on November 27, 2023

As the impeachment inquiry into President Biden thickens, House Republicans have turned their scrutiny toward personal loans that Biden provided to his brother, James Biden, in 2017 and 2018.

The central concern revolves around whether the repayments from James to President Biden were adequately documented and taxed.

The inquiry, led by House Ways and Means Chairman Jason Smith, is intensifying its examination of these financial transactions. The Republicans are probing into two loans made by Joe Biden to his brother James during a period when Biden was not in office.

Financial Scrutiny Intensifies in Impeachment Inquiry

The Chairman pointed out checks totaling $240,000 from James Biden to the President, indicating these as "loan repayments."

Republicans have thrown their weight behind this investigation, suggesting that these repayments could be connected with laundered Chinese funds or influence peddling.

Democrats, on the other hand, insist that bank records demonstrate President Biden extending two short-term loans to James during a period when he was not holding any public office, which James paid back.

Request for Further Documentation

An essential part of the narrative is the White House's refusal to provide further documentation related to a $200,000 payment between the two Bidens, both private citizens at the time.

This has led to Republicans expressing their suspicion over President Biden's denials about his family's business dealings in China.

A 2017 WhatsApp message showing Hunter Biden invoking his father's name while pressing a Chinese partner for payment has added fuel to these suspicions.

Subpoenas Issued to Biden Family Members

As part of their investigation, House Republicans under Smith's leadership have issued subpoenas to key figures in this case. Hunter Biden, James Biden, and several others have been called to testify on these matters. The testimonies sought in the coming weeks are expected to shed more light on the nature of these financial transactions and any potential misconduct.

Chairman Smith emphasized the necessity of these testimonies, expressing hope that the involved parties will cooperate fully. Smith discussed the focus of the investigation, stating:

"We have now seen checks going to President Biden of $240,000 as loan repayments to [James Biden]. But if you look at the president’s tax returns that he has released publicly, there’s no documentation of any interest income that he has received for any loans that he had granted towards anyone."

Examining the Timeline of Events

In 2017, Joe Biden provided a short-term loan of an unspecified amount to his brother James. This was followed by a $40,000 "loan repayment" check from James Biden's wife, Sarah, to Joe Biden.

In 2018, Biden issued a second short-term loan to James, after which a significant $200,000 "loan repayment" check was made from James to Joe Biden.

These transactions are central to the current investigation, raising questions about their legality and compliance with tax laws.

Conclusion

  • House Republicans are investigating personal loans from President Biden to his brother James in 2017 and 2018.
  • The focus is on whether the repayments were properly documented and taxed.
  • The impeachment inquiry has been expanded to include the President's financial and tax matters.
  • Subpoenas have been issued to Hunter Biden, James Biden, and others to testify on these matters in the coming weeks.
  • The White House has refused to provide further documentation of a $200,000 payment between the Bidens.
  • Democrats insist bank records show President Biden provided two short-term loans to James, which were repaid.

About Robert Cunningham

With years of experience at the forefront of political commentary, Robert Cunningham brings a blend of sharp wit and deep insight to his analysis of American principles at the Capitalism Institute.

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