House Oversight Committee Chairman James Comer (R-KY) has demanded the White House provide documentation "clarifying the nature" of a $200,000 payment from James Biden to Joe Biden in 2018.
Comer stated last week that his committee had discovered evidence that Joe Biden received a "$200,000 direct payment" in the form of a "personal check" from his brother, James Biden, and sister-in-law Sara Biden, in 2018. The label on the check read "loan repayment," according to Fox News.
The White House reported last week that a committee found that, as a private citizen, the president loaned his brother his own money when his brother was in need, and that bank records indicate he was repaid.
But on Thursday, Comer sent White House Counsel Edward Siskel a letter requesting proof of the payment.
"The White House has claimed Joe Biden loaned James Biden $200,000, and this check was repayment," Comer wrote.
"Records obtained by the committee do show numerous large incoming transactions into the personal accounts of James and Sara Biden from various entities," he added.
In September, James Biden and Hunter Biden's personal and business financial records were subpoenaed by Comer.
"Some of these transaction records may have obscured the identity of the true payer, but no records in the committee’s possession state that Joe Biden made a large loan payment to his brother," Comer wrote.
"If Joe Biden did personally loan James Biden an amount that was later repaid by the $200,000 check, please provide the loan documents, including the loan payment, loan agreement, and any other supporting loan documentation," Comer added.
Flag on the Play
Comer drew attention to the fact that the Internal Revenue Code has "specific requirements for delineating and reporting 'below-market [rate] loans' from gifts."
"While there are some exceptions, for example loans of $10,000 or less, the payment in question would not appear exempt from such requirements if it is a loan," Comer said.
"Indeed, there appears to have been no interest paid on the ‘loan’ based upon the White House’s own representations," the Oversight chair concluded.