Tens of million in CARES Act loans went to the households of simply 28 Congresspeople | Boing Boing

Tens of million in CARES Act loans went to the families of just 28 Congresspeople | Boing Boing


A brand new evaluation from Sludge Magazine reveals that Washington nepotism is simply as unsurprisingly nepotistic and grossly disappointing as ever:

18 congressional Republicans and one Libertarian have acquired $21.7 million for 38 companies with which they’re related. 9 Democrats acquired $6.1 million for 11 of their very own companies. An extra roughly $54 million went to nonprofits, assume tanks and coverage institutes, congressional caucuses, and better schooling establishments tied to members of each events.

[…]

• Dean Phillips (D-Minn.), internet price $77 million, acquired a $135,800 mortgage for his Geniecast, LLC.

• Vern Buchanan (R-Fla.), internet price $73.9 million and the fourth-richest member of Congress, acquired $2.8 million in loans for 4 of his 27 corporations.

• Kevin Hern (R-Okla.), internet price $60.9 million, acquired a mortgage of $1,070,000 for his KTAK Company. Hern, who owns 97 % of the corporate, estimated its worth at between $5 and $25 million final yr.

• Norman, internet price $43.4 million, acquired $306,520 for 4 of his 20 corporations.

• Mitch McConnell and spouse Elaine Chao, with a mixed internet price of $34.4 million, are tied to a mortgage for the Chao-family owned Foremost Maritime Inc. of $417,700.

• Roger Williams (R-Texas), internet price $27.7, acquired $1,430,000 for his JRW Company. Final yr, he valued the corporate at greater than $50 million.

• Greg Pence, internet price $12.6 million, acquired a mortgage of $79,441 for his Pence Group, LLC, which he valued on his monetary disclosure as price between $5 and $25 million.

• T.J. Cox (D-Calif.), internet price $11.8 million, acquired $609,825 for 2 of his 26 companies.

• Nita Lowey (D-N.Y.), internet price $10.9 million, is tied to a mortgage of $1,100,000.00 that went to her husband’s regulation agency, Lowey Dannenberg P.C.

• Mike Kelly (R-Pa.), internet price $10.4 million, acquired $974,100 for 4 of his automobile dealerships.

• Ralph Abraham (R-La.), internet price $4.8 million, acquired loans of $38,300 for 2 of his 4 corporations.

• Earl Blumenaeur (D-Ore.), internet price $4.5 million, acquired $432,734 for his two corporations.

• Vicki Hartzler (R-Mo.), internet price $3.8 million, is tied to $451,200 for her husband’s Heartland Tractor Firm, which she valued at between $1 and $5 million and from which he claimed as a lot as $1 million in earnings final yr.

• Markwayne Mullin (R-Okla.), internet price $3.7 million, acquired $988,700 for his two household plumbing companies.

Whereas this sort of nepotistic corruption is at all times bipartisan, it’s irritating to notice that Republicans have been twice as prone to partake in such habits. And naturally, many of those identical individuals additionally voted towards giving greater than $600 to residents in the latest spherical of COVID aid efforts, even after voting to supply immense aid to big businesses instead of smaller mom-and-pop shops.

Anecdotally, I’ve seen that numerous the conservative and Libertarian pundits opine about COVID aid being the only largest switch of wealth to the already-wealthy and highly effective. I agree with this evaluation, and I agree that it is an issue. However I am unable to fathom how persevering with to oppose any type of authorities aid and forcing companies to renew as regular would assist that both. It appears to me the issue rests with the identical politicians who get voted into energy on a platform of “The federal government is evil and corrupt!” who spend their complete lives attempting to show that prophecy true (after which one way or the other nonetheless get re-elected).



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