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McCarthy Found Trump’s Hotels Competitive Only During Trump’s Presidency

Zach Everson
Staff Writer
APRIL 28, 2022
In 2019, Kevin McCarthy defended then-President Donald Trump’s continued ownership of his hotels, saying they were just competing on the free market like other chains. The House Minority Leader’s campaign spending, however, tells a different story.

At a press conference in September 2019, McCarthy, a California Republican, said he saw no problem with Trump continuing to own a commercial enterprise while serving as president. “The president’s resorts are hotels that he owns,” McCarthy said at the time. “It’s just like any other hotel.” He went on: “I don’t know that that’s different than anything else. Is it different than if I go and stay or eat at a Marriott here or eat at the Trump? The president isn’t asking me to. He’s competing in a private enterprise.”
"He’s competing in a private enterprise,” House Minority Leader Kevin McCarthy said of then-President Donald Trump continuing to own his hotels. Twitter/The Hill
Let’s look at how competitive Trump’s properties have been in the eyes of McCarthy’s campaign and leadership PAC, as well as aligned joint fundraising committees:

During McCarthy’s 10 years in Congress prior to Trump’s election in 2016, McCarthy’s campaign apparatus reported spending around $740 at Trump businesses, according to records kept by the Federal Election Commission. Trump’s Washington hotel at 1100 Pennsylvania Ave. didn’t open until a few weeks before Trump’s inauguration as president. Still, McCarthy is a prolific fundraiser who regularly crisscrosses the country, providing him with ample opportunities to spend money at other Trump properties over the years. With the exception of a 2012 stay at Trump International Hotel and Tower Chicago, McCarthy chose not to.

Starting the week before Trump’s inauguration, though, his properties became a lot more competitive in McCarthy’s eyes. During the four years Trump was in the White House, McCarthy’s groups spent at least $250,000 at the president’s businesses.

In the 14 months since Trump’s been out of office, McCarthy’s committees reverted back to their old spending habits, dropping just $610 at Trump businesses.

Spokespeople for McCarthy’s committees did not immediately respond to inquiries.
Kevin McCarthy's political spending at Trump properties spiked during his presidency. FEDERAL ELECTION COMMISSION/KEVIN MCCARTHY
Welcome To The Latest Issue Of Checks & Imbalances
Today we look at a struggling trucking company receiving a $700 million loan during the pandemic, a North Carolina Republican senator calling for an investigation into a GOP congressman from that state and Elon Musk helping out Donald Trump.

Checks & Imbalances publishes on Mondays and Thursdays. Please support this work, if you can, by subscribing to Forbes. Any tips or suggestions? Email me at zeverson@forbes.com.  And you can follow me on Twitter at @z_everson. Thanks! 
In Case You Missed It
Trump Officials Pressured Treasury To Approve $700 Million Loan For Trucking Company After It Was Deemed Ineligible
"Top Trump Administration officials—and potentially the president himself—intervened to help a struggling trucking company receive a $700 million Covid-19 pandemic loan after Defense Department officials recommended against it, according to a new report released on Wednesday by House Democrats," reports Madeline Halpert:

The report—which the House Select Subcommittee On The Coronavirus Crisis titled, “We Had Our Hand in the Cookie Jar"—shows that YRC Worldwide, received 95% of the total funds allocated through the Coronavirus Aid, Relief and Economic Security (CARES) Act national security program.

Shortly after a Defense Department official informed the Treasury Department that the firm, now called Yellow Corporation, would not be deemed eligible for a loan because they were not “critical to maintaining national security,” Treasury Secretary Steven Mnuchin set up an “urgent” phone call with Defense Secretary Mark Esper, according to the report.

A week after the call in late June 2020, Esper in July certified the company as critical to national security and the loan was approved.

Read more: "Trump Officials Pressured Treasury To Approve $700 Million Loan For Trucking Company After It Was Deemed Ineligible"
A Yellow Transportation truck departs. TANNEN MAURY/BLOOMBERG NEWS
Sen. Tillis Calls For Insider Trading Probe Over Rep. Cawthorn’s Ties To ‘Let’s Go Brandon’ Meme Coin
"Sen. Thom Tillis called Wednesday for the House Ethics Committee to investigate fellow North Carolina Republican Rep. Madison Cawthorn after watchdog agencies told the Washington Examiner the congressman could be implicated in an insider trading scheme," reports Anna Kaplan:

Tillis said in a tweet “insider trading by a member of Congress is a serious betrayal of their oath,” adding that Cawthorn owes North Carolinians “an explanation.”

The Examiner reports Cawthorn was pictured at an event on December 29 with James Koutoulas, one of the people behind the “Let’s Go Brandon” cryptocurrency, which is named after the viral chant insulting President Joe Biden.

Read more: "Sen. Tillis Calls For Insider Trading Probe Over Rep. Cawthorn’s Ties To ‘Let’s Go Brandon’ Meme Coin"
Rep. Madison Cawthorn (R-N.C.) speaks before former President Donald Trump takes the stage at a rally, Saturday, April 9, 2022, in Selma, N.C. (AP Photo/Chris Seward) ASSOCIATED PRESS
Truth Social Hits Top Of Free iPhone App Download Chart After Musk Strikes Twitter Deal
"Former President Donald Trump’s social media network Truth Social was the most downloaded free iPhone app in the App Store on Tuesday, with Twitter close behind at No. 2 a day after the company’s board agreed to be acquired by Tesla CEO and billionaire Elon Musk for $44 billion," reports Madeline Halpert:

On Monday, before the deal was announced, Truth Social was ranked 52nd and Twitter was in 39th place on the download chart.

Downloads of Truth Social rose to 75,000 for the week of April 18 to 25, up 150% from the week before, according to data from Sensor Tower, a company that monitors mobile apps metrics and has tracked the launch of Trump’s social media site.

Shares of Digital World Acquisition Corp. (DWAC), the special purpose acquisition company that plans to merge with Truth Social, were up 3% to $36.81 Tuesday afternoon after plummeting Monday morning following reports Twitter would accept Musk’s buyout.

Read more: "Truth Social Hits Top Of Free IPhone App Download Chart After Musk Strikes Twitter Deal"
Truth Social soared to the top of iPhone charts a day after Twitter's board agreed to Elon Musk's offer. Apple/App Store
Tracking Trump
Basic guest rooms started at $1,700 with a five-night minimum stay at the Trump International Hotel D.C. during its final week.
Trump International Hotel Washington, D.C.

Forbes continues to update "Tracking Trump: A Rundown Of All The Lawsuits And Investigations Involving The Former President.” Among the latest developments, a New York judge found Donald Trump in contempt for failing to comply with subpoenas from the state's attorney general.
FORBES
  • "Musk vs. Trump? Elon Slams Truth Social For ‘Terrible Name’ After Deal To Buy Twitter" (Forbes)
  • "Trump’s Beloved BLT Prime Permanently Closes" (Eater D.C.)
Editor's Picks
  • "Here’s How Disney Could Block—Or Benefit From—Republicans Killing Its Special District" (Forbes)
  • "Former U.S. ambassador accused of illegal foreign lobbying" (Axios)
  • "Pro-Israel groups wade into Dem primary fights" (Axios)
  • "Joe Biden met with Hunter Biden business partner at the White House" (The New York Post)
  • "Loeffler Said Her Private Jet Saved Taxpayers Money. It Didn’t." (The Daily Beast)
  • "House Democrats are trying to raise money off of a five-month old report about how Wall Street donors don't feel like helping them" (Twitter/Andrew Perez of The Lever)
  • "Business, travel groups ask Biden to jump-start federal business travel" (Politico)
  • "GOP Rep. Madison Cawthorn appears to have violated the STOCK Act by failing to disclose 'let's go brandon' cryptocurrency purchase" (Insider)
  • "Sen. Fischer rehires transportation lobbyist as legislative director" (LegiStorm)
  • "Elon Musk’s Twitter takeover adds to his corporate political influence and lobbying power" (OpenSecrets)
We were burnt by the sun
Having way too much fun
The church of private enterprise
Did the daylight bring you down?
David Byrne, "Burnt By The Sun"
Zach Everson
Forbes staff writer
I took an unusual route to get here. In a past life, I worked as a travel and food writer, which is how I got the assignment in 2016 to cover the grand opening of the Trump International Hotel in Washington, D.C., just a couple miles from my home. When Trump won the election and refused to divest his business, I stayed on the story, starting a newsletter called 1100 Pennsylvania (named after the hotel’s address), and contributed to Vanity Fair, Politico and NBC News. I’m still interested in Trump, but I’ve broadened my focus to follow the money connected to other politicians as well—both Republicans and Democrats.
Follow me on Twitter.
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