A group of House Republicans are vowing to expose the tax loopholes utilized by President Biden in his own personal filings if he and Democrats move forward with an infrastructure package that would raise taxes.
Speaking to Fox News Monday, Rep. Jim Banks (R-In.), chairman of the Republican Study Committee, reiterated the warnings he previously delivered to the commander-in-chief in a letter late last month.
“House Democrats used their oversight power to subpoena [former President Donald] Trump for his tax returns, but they’ve completely ignored Joe Biden’s abuse of our tax code,” Banks told the network.
“When we take back the House in 2022, Oversight [Committee] Republicans won’t forget about Biden’s legally dubious tax avoidance schemes,” he continued.
In his letter to Biden, dated March 25, Banks alleges that the 46th president used two S-corporations to avoid paying $500,000 in payroll taxes.
S-corporations do not pay federal income taxes, and the payroll taxes avoided in this case would