America Faces No Greater Threat Than Joe Biden and the Democrat Party. Their Assault to Our Borders Is As Great As Their Assault to Free Speech and Free Elections
Thursday, May 5, 2022
PARTY OF CORRUPTION - AND THE MONEY JUST KEPT ROLLING IN! - Georgia Democrat Stacey Abrams Sponsored Legislation Related to Her Private Business Interests
Elected Democrats now have no interest in the average voter because that's not whom they work for. It's the big money foundations and the armies of their paid activists. They are the ones doing the all the ballot-harvesting that is finally being exposed in the 2000 Mules documentary. They are the ones who can hand a presidential nomination to an Obama, a mansion to a BLM leader, or make a failure like Stacey Abrams very rich.
ABRAMS IS ALL FOR BIDEN'S OPEN BORDERS TO KEEP WAGES DEPRESSED
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Democrat Stacey Abrams sponsored legislation in 2015 while she was a Georgia lawmaker that was related to bad debt from credit programs, which, at the time, was relevant to her financial services company.
Abrams, then the Georgia House minority leader, was the lone Democrat to sponsor the legislation, alongside four Republicans.
The bill, House Bill 389, sought to modify the state income tax collection process to “provide for credits for bad debts on private label credit cards or dealer credit programs.”
Abrams, at the time, was senior vice president at a company called NOWAccount, according to an archive of the company’s website. Abrams had cofounded NOWAccount in 2010 with two business partners with the goal of helping to grow small businesses, which NOWAccount would do by loaning the businesses money upfront for invoices the businesses were awaiting payment on.
Recent findings from an investigation by the Government Accountability Institute (GAI) reveal Abrams had an “integral” role in NOWAccount’s ability to secure state contracts with the Georgia Department of Community Affairs (DCA) that would use federal taxpayer dollars to fund the loans, as well as bail out NOWAccount when it had granted risky loans that defaulted.
The Atlanta Journal-Constitution previously reported on NOWAccount’s dealings with DCA and noted Abrams had a 16 percent stake in the company when it was in the process of crafting state contracts with the DCA, in 2013 and 2014.
Abrams claimed, according to the the AJC, that she had “no role in securing the state contracts, and that she scrupulously avoided conflicts of interest” while she was a state lawmaker.
GAI obtained documents, however, that show Abrams’ name was used prominently during the application process for the state contracts and that NOWAccount had tried and failed to create similar setups in other states, where Abrams was not a lawmaker.
The legislation she sponsored in 2015, which never moved forward and was ultimately deemed dead the following year, raises more concern that the then-state lawmaker may have sought to use her public role in office to boost her personal wealth.
GAI found NOWAccount’s shoddy lending had led to federal taxpayer dollars covering a total of $1.5 million in losses from unpaid loans.
The legislation appears, therefore, to be related to and potentially even beneficial to NOWAccount, specifying that “a dealer shall be allowed a deduction or refund of the tax previously reported by the dealer on the unpaid balance due on the account or receivable that is charged off as a bad debt on the books and records of the lender.”
Abrams is the uncontested Democrat candidate running for governor in Georgia this year and will face either Gov. Brian Kemp (R), whom she narrowly lost to in her first bid for governor in 2018, or former Sen. David Perdue (R-GA) in the upcoming general election.
The Abrams campaign did not respond to Breitbart News about whether Abrams would have benefited personally from this legislation she sponsored.
The discrepancy raises questions about where the nearly $5.2 million might have originated.
In April, Joe Biden claimed he doesn’t “think you should make money while you’re in office.”
However, emails from Hunter’s laptop appeared to show great sums of money were transferred to the Biden family via the scion’s shady overseas business.
WHERE DID ALL OF GAMER LAWYER JOE BIDEN’S BIG BUCKS COME FROM?
I’d be inclined to disagree with Don except for one thing: Biden has proven to be a very adept criminal mastermind. For decades, he has funneled millions of dollars to his children and siblings and, especially, to his debauched, deviant son, Hunter. ANDREA WIDBURG
There it is. That's the issue. To begin, you have the corrupt family Biden. They've been scamming us and our system well for almost fifty years. The man is supposedly worth over 250 million dollars. How is this possible on his salary? It's not. So where did his wealth come from? Not from being a brilliant businessman. DAVID PRENTICE
It will be interesting to see if the NYT will actually publish a story that reveals Hunter Biden's shady web of international business relationships cultivated when his father was vicepresident RAJAB LAAD
Undeterred, on September 2, state lawmakers sent a budget to Governor Newsom calling for $600 million in spending increases and a reduction in state revenue with the extension of earned income tax credits for immigrants and illegal aliens. Balance sheet be damned, California must cater to illegal aliens. P.F. WHALEN
Biden lied about his undergraduate degree and his majors, lied about his rank in law school, lied aboutscholarships and educational aid he had received, lied about his stance toward the Vietnam war while in college, lied about his plagiarism of other politician's writings andspeeches, lied about the circumstances around his first wife's fatal accident, lied about how he met his second and current wife, and lied about the affair they were having when they were both married. MARK CHRISTIAN
Most recently and dramatically, Biden lied abouthis knowledge of his son's shady dealings, liedabout his own involvement in corruption and bribery,and lied about his current presidential agenda andwhat he wants to implement in regards to energy,fracking, court-packing, health care, education, andCOVID among other issues.
Elected Democrats now have no interest in the average voter because that's not whom they work for. It's the big money foundations and the armies of their paid activists. They are the ones doing the all the ballot-harvesting that is finally being exposed in the 2000 Mules documentary. They are the ones who can hand a presidential nomination to an Obama, a mansion to a BLM leader, or make a failure like Stacey Abrams very rich.
Georgia Democrat Stacey Abrams was an “integral part” of her private company’s ability to obtain state contracts in 2013 that ultimately boosted her company’s profits while Abrams was a state lawmaker, according to a Government Accountability Institute (GAI) investigation.
The investigation’s findings, first detailed Tuesday on Fox News by former Rep. Jason Chaffetz, a GAI distinguished fellow, provide revelations of the role Abrams had in securing her company’s contracts for government-backed loans while Abrams was serving as Democrat minority leader in the Georgia House from 2011 to 2017.
Abrams, who narrowly lost her bid for governor in 2018 and is now running again, “has been somewhat coy about her role in a sweetheart deal her company inked with the State of Georgia in 2013,” Chaffetz wrote.
Abrams cofounded the financial services company NOWaccount, now known as Now Corp., in 2010 with business partners Lara Hodgson and John Hayes.
NOWaccount’s stated purpose was to help small businesses grow, which it would do by loaning the businesses money upfront for invoices the businesses were awaiting payment on. NOWaccount would eventually secure state contracts in 2014 that allowed the company to use federal taxpayer dollars to pay off any unpaid loans, a fact previously reported by the Atlanta Journal-Constitution in 2018.
NOWaccount had a revenue of $100,000 in 2013, Chaffetz noted, just ahead of it applying for and receiving private lender status from the Georgia Department of Community Affairs (DCA). Its newfound lender status allowed NOWaccount to give out loans through two entities, and those entities would be reimbursed with taxpayer dollars whenever the loans were not paid.
Georgia House Minority Leader Stacey Abrams attends a gala, March 3, 2015, in Washington, DC. (Kris Connor/Getty Images for Emily’s List)
GAI obtained documents, Chaffetz wrote, that revealed “Abrams was an integral part of the application process related to a state government small business loan program that would benefit NOWaccount.”
Abrams was, for instance, touted as a “key manager” on one of the entities’ applications that was submitted to the Georgia DCA, an application that was approved in April 2014.
That entity, called the Small Business Credit Cooperative, also had Abrams listed as an officer on its incorporation document when the entity was created in conjunction with the Georgia DCA.
The private lender status afforded to NOWaccount, in which Abrams had and still maintains a financial stake, was also unique considering that “when NOWaccount later attempted to persuade other states to adopt a similar program – states where Abrams was not in the legislature – no other state would offer the same approach,” Chaffetz wrote.
The special negotiations with the Georgia DCA “put taxpayers on the hook for loans approved by NOWaccount that were not paid,” he continued. “This benefited NOWaccount’s bottom line and Abrams’ investment in the company.”
GAI discovered that Abrams’ business partner wrote in a Harvard Business School case study that the federal loan program allowed NOWaccount “to scale faster because the government is in the first-loss position, not our lenders.” Chaffetz explained of that finding, “In other words, with taxpayers on the hook for bad loans, the company could more easily attract investors.”
The AJC’s initial report on Abrams’ company’s use of state contracts for its loans in 2018 came as Abrams was making her first run for governor and coming under heightened scrutiny.
Abrams told the outlet she was no longer an employee of her company as of August 2016. Abrams also said she was informed verbally by the attorney general, a Republican, at the time that she was not violating any ethics but that she still “walled” herself off from the company’s business dealings with the state.
“I’m proud of what NOWaccount did,” Abrams said. “I went to a Republican attorney general to make certain I was not in violation of even the spirit of the law. After being told there was no conflict of interest, I still walled myself off” from NOWaccount’s dealings with the Georgia DCA.
As GAI found, however, Abrams could not have been entirely “walled” off while the Democrat lawmaker’s name was featured throughout the process of securing state contracts, the same contracts that later allowed federal funds to pay off her business’s defaulted loans.
The federally funded loan program ended in 2017, Chaffetz noted, but Abrams’ company appears to be growing as two investment groups just poured $29 million into the company, now called Now Corp.
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