“It’s a loan repayment from when President Biden loaned his brother money,” White House spokesman Ian Sams posted on X. “When he was out of office in 2018, no less. It’s right there on the check!”
Democrats on the committee said Republicans ignored that bank records also showed a payment in the same amount from Joe Biden to James Biden six weeks prior to that, consistent with the White House’s claim of a short-term loan.
“These records actually show that President Biden was the one who stepped in to help family members when they needed support, including by providing short term loans to his brother,” said Rep. Jamie Raskin,
“These bank records show that in 2017 and 2018, while President Biden was not in office, he provided two short-term loans to his brother, James, who repaid each loan within two months,” Raskin said
FactCheck.org obtained an Excel spreadsheet of wire transfer records and check images that are consistent with Raskin’s account.
Those records show two wire transfers from Joe Biden to a joint account for James and Sara Biden, one for $40,000 on July 28, 2017, and one for $200,000 on Jan. 12, 2018. The wires came from an “Attorney Trust Account” maintained by Joe Biden’s attorneys at the firm “MONZACK MERSKY MCLAUGHLIN BROWDER.”
A check image from Sept. 3, 2017, shows a $40,000 payment from a joint account for James and Sara Biden to Joe Biden (the check is signed by Sara Biden and is labeled “loan repayment” on the memo line). The payment was deposited into the same account from which the $40,000 wire payment was made 38 days prior.
An image of another check — the one highlighted by Comer — shows a $200,000 payment from a joint account for James and Sara Biden to Joe Biden on March 1, 2018. That’s 48 days after Joe Biden wired James Biden a similar amount. It, too, is noted as “loan repayment” in the memo line.
In an emailed statement to the Wall Street Journal, James Biden’s attorney, Paul Fishman, wrote, “The Committee has the bank documents that show both the loan Jim received from his brother in January 2018 and the repayment by check six weeks later. At no time did Jim involve his brother in any of his business relationships.”
“No, and they’re lying,” Comer said.
“At the end of the day, there’s no document that shows there was a loan,” Comer said. “The Democrats on the oversight committee, they get the same stuff that I subpoena. When I subpoena something, Maria, they make two copies, one for me, the Republicans, and one for the Democrats, Jamie Raskin. So if they had the darn document, they would have showed it. This is another example of their lies and the media takes it.”
But in a press release issued on Oct. 26 that echoed points made in a letter from Raskin to Comer the same day, Democrats on the oversight committee accused Comer of a “willingness to cherry-pick and misrepresent the content of these bank records.”
“Despite the Oversight Committee receiving the exact bank record showing that President Biden made a $200,000 interest-free loan to his brother James Biden, Chairman Comer has repeatedly omitted that fact, falsely suggesting President Biden is ‘$200,000 better off today because of his family’s influence peddling scheme,’” the release states
Again, our review of bank records did not show any documentation that wire transfers of $40,000 and $200,000 from Joe Biden to James Biden were loans. Perhaps there is no official documentation indicating that they were loans. However, images show James or Sara Biden writing checks to Joe Biden several weeks after those wire transfers in those exact same amounts, and with “loan repayment” listed in the memo lines. That’s consistent with the White House’s claim that these were short-term, no-interest loans.
I've colour coded the above exerpts from the FactCheck.org article.
Green are statements either coming from Democrats or Biden family members
Purple are coming from Comer
Red are coming from FactCheck.org
Everyone (Democrats, Comer and FactCheck) is in agreement that $200,000 was paid from James Biden to Joe Biden
The dispute is that Democrats say bank records show that 6 weeks prior Joe Biden loaned James Biden $200,000
Whereas Comer is saying that Bank records do not show that Joe loaned James money.
FactCheck say that the Bank records show that 6 weeks prior Joe Biden paid James Biden $200,000 but that it wasn't labelled in the bank records as a loan.