skews13
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- Mar 18, 2017
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Rep. Julia Howard (R) is one of the longest-serving members of the NC General Assembly. She represents Davie and Rowan counties, a reasonably conservative district, but Howard isn’t known as a highly ideological warrior. She has long been a senior member of the House Finance Committee, including — until Tuesday — one of its senior chairs, responsible for running the committee and moving legislation.
House Speaker Tim Moore removed Howard from her position as senior finance committee chair on Tuesday after she spoke out publicly with ethical concerns over a bill that Republicans were promoting in her committee.
Specifically, House Bill 334 has to do with tax treatment of PPP loans. PPP loans are already untaxed under state law. HB334 would go further, allowing businesses to count PPP loan money spent as a deductible expense.
THE PROBLEM IS, SOME OF THE BILL’S BIGGEST SUPPORTERS IN THE GENERAL ASSEMBLY ALSO STAND TO PROFIT FROM IT PERSONALLY.
Guess Who Got PPP Loans in North Carolina?
Like we saw across the country, access to PPP loans turned out to be highly uneven. The application process was long and confusing for most. Big businesses scored large loans, while most small businesses failed. One analysis showed that 50% of PPP loan money in North Carolina went to just 4% of businesses.
Among those who scored were several prominent Republicans in the General Assembly:
This means that all of these lawmakers would personally profit from changing the tax treatment of PPP loans. Bradford, in particular, could save up to $20,000. It’s unclear just how much Senator Edwards would save, but it’s reasonable to assume it is far more.
Cockroach theory does explain it, doesn't it
House Speaker Tim Moore removed Howard from her position as senior finance committee chair on Tuesday after she spoke out publicly with ethical concerns over a bill that Republicans were promoting in her committee.
Specifically, House Bill 334 has to do with tax treatment of PPP loans. PPP loans are already untaxed under state law. HB334 would go further, allowing businesses to count PPP loan money spent as a deductible expense.
THE PROBLEM IS, SOME OF THE BILL’S BIGGEST SUPPORTERS IN THE GENERAL ASSEMBLY ALSO STAND TO PROFIT FROM IT PERSONALLY.
Guess Who Got PPP Loans in North Carolina?
Like we saw across the country, access to PPP loans turned out to be highly uneven. The application process was long and confusing for most. Big businesses scored large loans, while most small businesses failed. One analysis showed that 50% of PPP loan money in North Carolina went to just 4% of businesses.
Among those who scored were several prominent Republicans in the General Assembly:
- House Speaker Tim Moore — $25,000 (he owns a law practice)
- Rep. John Bradford — $400,000 (software company)
- Sen. Chuck Edwards — $1,000,000 (banking and real estate)
This means that all of these lawmakers would personally profit from changing the tax treatment of PPP loans. Bradford, in particular, could save up to $20,000. It’s unclear just how much Senator Edwards would save, but it’s reasonable to assume it is far more.
Yet ANOTHER Republican corruption scandal has just blown open in North Carolina
We got a telling glimpse into how business is done by the Republican majority in North Carolina’s state legislature this week. Whistleblowing and retribution Rep. Julia Howard (R) is one of the longest-serving members of the NC General Assembly. She...
www.dailykos.com
Cockroach theory does explain it, doesn't it