Congressman Meuser Calls for Comprehensive IRS Inquiry into the Compliance of “Loan Repayments” Made to President Joe Biden

WASHINGTON, D.C. — Today, Congressman Dan Meuser (R-PA) wrote to the Internal Revenue Service (IRS) demanding a thorough inquiry into the $240,000 in “loan repayments” made to President Biden, which were uncovered during the House Oversight Committee’s investigation into the Biden family’s business dealings. 

In the letter to IRS Commissioner Daniel Werfel, Congressman Meuser expressed deep concern over several financial transactions involving President Biden, his brother James Biden, and other family members. These transactions, which include a $200,000 check from James Biden and a $40,000 check from Sara Biden to Joe Biden, were classified as loan repayments, yet lack substantial documentation and raise questions about their compliance with tax laws.

The IRS mandates that any loan between family members be made with a signed written agreement, a fixed repayment schedule, and a minimum interest rate charged. However, the White House has produced neither documentation showing the loan was actually made nor any documentation showing President Biden paid income tax on the interest he would be required to charge on such a loan repayment from his brother and sister-in-law.

Meuser said, “If the IRS does not have documentation for the supposed loans Joe Biden made to his brother and sister-in-law only two things can be true. Either Joe Biden never made the loans at all, or he failed to follow the legally mandated IRS protocols when making the loans. If he never made the loans, this is clear evidence he received kickbacks from his family who made millions perpetrating an influence-peddling scheme.”

Meuser continued, “As the former Revenue Secretary of Pennsylvania, I know that classifying large payments as ‘loan repayment’ is one of the oldest tricks in the book to avoid paying the gift tax or income tax. On the off-chance these weren’t kickbacks, and Joe Biden had in-fact made the loans, then he failed to follow IRS procedures and never paid income tax on the interest. In either case, it is very likely President Biden and his family members committed tax fraud and tax evasion, which is why I have demanded a thorough investigation from the IRS. No one, especially elected officials who enact tax policy, are above our nation’s tax laws.”

The letter can be found here.

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