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Chairman Smith Op-Ed: Biden Family ‘Loans’ Raise Serious Questions

October 31, 2023

By Ways and Means Committee Chairman Jason Smith (MO-08)
Fox News

Few Americans have ever received a $200,000 payment, especially from a relative. Yet that’s apparently business as usual in the Biden family, where large sums suspiciously transfer from one member to the next, even as President Biden denies being entangled in his son’s international business dealings. 

The mounting evidence continues to underscore why Congress must determine whether the president personally benefited from the Biden family global business operation and if access to then-Vice President Biden and his political influence was put up for sale.

Bank records do not lie. We now know Joe Biden received a $200,000 payment from his brother, James Biden, just after his brother received a loan for that exact same amount from a health care company he was doing business with. These “loans” were granted to James Biden in exchange for opening doors and helping that company obtain an investment from the Middle East.

However, this is not the first time James Biden has relied on his brother Joe Biden’s name and position when it comes to his business ventures. In the summer of 2006, James Biden is quoted saying “don’t worry about the investors… we’ve got people all around the world who want to invest in Joe Biden.”

While this is the first time this banking information has come to light, there’s nothing new about the serious concerns regarding the Biden family’s use of so-called “loans” to shuffle money to Biden family members, including apparently to Joe Biden. 

In 2020, the same year Joe Biden was running for president, a high-profile Hollywood attorney, Kevin Morris, began paying Hunter Biden’s unpaid tax liability to the tune of $2 million. While Hunter Biden’s attorneys have now sought to characterize this payment as a “loan,” it appears as though the paperwork trying to support such was only done years after the fact and once the IRS began to raise suspicion. 

The payment made to Hunter Biden by Kevin Morris to cover unpaid tax liabilities is a critical piece of the puzzle. It’s only right to question what Morris received in return for this significant sum, or whether the Biden campaign sought this donation to shield Joe Biden from scrutiny during a presidential election, thus violating campaign finance law.

We already know that the Bidens used over 20 shell companies to move money around the world and disguise the flow of money. Now we understand that on top of that structure, the Biden family seems to have used a series of loans to move money from family member to family member. 

This kind of financial maneuvering is highly unusual and demands transparency, especially when it comes to those entrusted with leading our nation. We must ensure government officials are not abusing the public’s trust to enrich themselves or their families through their position as a public office holder. 

The House of Representatives will investigate these so-called “loans” to ensure that America’s leaders are working for the American people, not their own self-interests.

To make matters worse, IRS whistleblowers who came forward to the Ways and Means Committee revealed the Biden Justice Department impeded their investigation into potential campaign finance violations involving the Biden presidential campaign and the payment from Morris. 

No one, regardless of their position, should be shielded from accountability. Our Republic and public trust in our institutions rely on transparency and equal treatment under the law.

Polls show that nearly half of American adults now believe President Biden “definitely” or “probably” did something illegal in relation to his son, Hunter. It is time for Congress to seriously consider the fact that the staggering number of connections between President Biden and his family’s business dealings rise beyond the level of mere coincidence, and that the president may have been complicit – or worse, involved – in these unscrupulous “business” ventures, and seek to hold him accountable.

We owe it to the American people to dig deep and get to the truth, no matter where it leads us. Congress’ ongoing inquiry into the Biden family’s business dealings is a step toward achieving that goal.