Last week, Sen. Bob Corker (R-TN) was a surprise switch to “yes” on the GOP’s unpopular tax cut bill. However, after reports surfaced that Corker switched his vote around the time a provision was added that would benefit real-estate moguls (which Sen. Corker happens to be), it didn’t take long for dots to be connected. Corker further muddied the waters in an interview when he expressed that the bill doesn’t alleviate his concerns about the deficits and how he thinks the bill could have been improved with more time and bipartisan support (as he and his Republicans attempt to rush it through Congress).
Corker has now also spoken to CNN to further defend himself, insisting that he didn’t add a “single word” to the final version of the bill (he previously said he didn’t even read it beyond a 2-page overview). Here’s what he told the cable news network:
“I should be embarrassed by this maybe but I haven’t added a single word to this tax policy, that just hasn’t been my focus. Obviously I had nothing whatsoever to do with any provision whatsoever of this bill. The people who are the tax writers have said that. Look, it’s the way this place has become, and obviously sort of assassination if you will, but it’s just not true.”
It’s not the first time that Corker has attracted attention for his financial interests in relation to Congress. A 2015 article, which is once again making the rounds, shows how he amended his financial documents to include millions in investment income from hedge funds and real estate earnings he had not properly disclosed previously. Then, as now, Corker was the third-ranking Republican on the Senate Banking Committee, which just happens to oversee the financial services and real estate industries. From the Wall Street Journal:
The new forms show that Mr. Corker had failed to properly disclose at least $2 million in income from investments in three small hedge funds based in his home state. He also didn’t properly report millions of dollars in income from commercial real-estate investments due to an accounting error. And he didn’t disclose millions of dollars in other assets and income from other financial transactions.
The rules of Congress clearly state that members of the House and Senate are allowed to vote on legislation that personally enriches them, as long as their financial forms are up to date and free of omissions. Corker responded to the 2015 report by stating that he regretted the “filing errors” that led to the omissions.
Back to the original subject … the tax bill should easily pass, but the fallout may be enormous.
(Via New York Times & Wall Street Journal)