Kirsters Baish| It was reported by the Kansas City Star that the federal government funneled over $131 million into businesses supported by Democratic Missouri Senator Claire McCaskill’s husband since McCaskill took office eleven years ago in 2007.
In 2006, the year before McCaskill entered the Senate, her husband’s personal income from those investments was between $1,608 and $16,731, according to the senator’s financial disclosure forms.
In 2017, five years into McCaskill’s second term, Shepard personally earned between $365,374 and $1,118,158 from investments in housing projects that received federal subsidies, the disclosure forms show. Disclosure forms only provide ranges of income.
There is currently no accusations that Claire McCaskill, who combined with her husband have a net worth of over $30 million, had anything to do with influencing the federal government to push funds into business that her husband had invested in. Interestingly, however, the Senator has faced scrutiny involving financial issues in the past.
In June, McCaskill faced criticism when she publicly advertised that she would be leaving on a pro-veterans tour of Missouri in an RV. It was later revealed to the public that she was traveling in a private plane with all of the amenities. She spent over $3,000 on the private plane for her “RV tour.” The Washington Free Beacon reported that the Senator doled out $117,000 on private air travel between this April and June alone.
Shepard has been investing in affording housing since the 70s. Recently, he has seen great takeaway from these investments, as reported by the Kansas City Star. He earned somewhere between $365,374 and $1,118,158 in 2017 alone… all thanks to federally funded affordable housing investments.
The Daily Caller writes:
Shepard’s personal income from the investments was much lower in 2006 — between $1,608 and $16,731 in 2006, before McCaskill became a senator.
Projects connected to Shepard received $62 million in federal awards during McCaskill’s first term and $69 million during her second, reported The Kansas City Star.
McCaskill is not a member of the oversight committees for the Department of Housing and Urban Development or for the Department of Agriculture. The two agencies are responsible for federal loans and subsidies to the affordable housing developments like those that Shepard invests in.
The Kansas City cewspaper wrote that Shepard served as a limited partner (aka: solely an investor) in almost all of the 164 federally subsidized housing projects that he was involved with in 2017.
In 1999, Shepard played a role in 285 projects as investor. He was generally the general partner, so he had to seek out investors and take care of everyday operations.
Fox News reported:
Democratic Sen. Claire McCaskill was hit with another politically damaging report Tuesday when her local newspaper revealed businesses tied to her husband have gotten more than $131 million in federal subsidies since she took office.
Husband Joseph Shepard doesn’t personally pocket that money. But he has benefited from profits from the housing projects he’s invested in that received those subsidies.
McCaskill’s campaign told Fox News that her position had nothing to do with the transfer of money. A spokesperson for the Senator blamed her opponent in the upcoming midterm elections, Josh Hawley for trying to “distort and demonize” the business of McCaskill’s husband.
The spokeswoman, Meira Bernstein, wrote in an email to Fox News, “Claire’s work in the Senate has absolutely nothing to do with her husband’s business investments. It is outrageous that Hawley’s backers are trying to distort and demonize Joseph Shepard’s business success while they celebrate Donald Trump’s business record and wealth. It is the definition of hypocrisy.”
GOP Republicans had something to say about it…
Claire voted against #TaxReform while her husband was making millions from offshore hedge funds and hundreds of millions from federal government subsidies.
— Missouri GOP (@MissouriGOP) July 24, 2018
What’s really going on here?