It turns out that despite Congress passing a measure in the CARES Act that prohibits any stimulus money from going to President Donald Trump’s family or their businesses, it appears there is a provision that Jared Kushner is poised to take advantage of so taxpayers will foot the bill on his mortgage payments instead of having to pay up himself.
Kushner’s family business already owns thousands of apartments in New York, Maryland and elsewhere, and is pressuring tenants to continue paying their rent.
He had been begging for a break from his creditors concerning his own loans, one of which is an $800 million federally-backed loan from 2019.
Now it appears Kushner is looking to force taxpayers to pick up the tab on that mortgage while using the coronavirus pandemic as an excuse to not pay his own bills.
According to Politico:
Kushner’s family business could be a prime beneficiary of a provision in the federal recovery bill that allows owners of apartment buildings to freeze federal mortgage payments on low- and moderate-income properties.
Because Kushner Companies, like many real estate companies, establishes buildings as a network of individual LLCs, it may be possible for it to obtain federal help for some buildings even if it has enough money to cover the mortgage payments, said Shekar Narasimhan, an expert in real estate financing and managing partner of the firm Beekman Advisors.
‘Could he take advantage of it? Yes, his company could,’ Narasimhan said. ‘They’re supposed to have deep pockets, but most owners set each building up to an LLC. So in theory, he doesn’t have an obligation to write a check.'”
American taxpayers are already struggling as the economy continues to tank. Millions are now jobless and are having difficulty paying their bills. The last thing they need is to have to pay Kushner’s mortgage on several buildings he owns, especially since he has enough money to afford to continue paying it himself. The grifting clearly never ends in this family.
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