The White House dodged questions on Wednesday regarding United States President Joe Biden's $250,000 line of credit that the Democrat took out against his Delaware beach home.
The situation comes amid an investigation into the president's son, Hunter Biden's tax affairs as his father's classified documents scandal unfolded. An unidentified reporter questioned White House press secretary Karine Jean-Pierre during an Air Force One press gaggle on the president's financial decision with his wife in early December.
Joe Biden's $250,000 Line of Credit
The individual asked what the $250,000 line of credit on Biden's house in Rehoboth late last year was for. In response, Jean-Pierre said she would refer such questions to the White House Counsel's office.
The news about Biden's $250,000 move was first reported last Friday, where he was found to have quietly secured the six-figure line of credit against his multi-million-dollar home on December 5, 2022. Initially, the White House acknowledged the inquiry into the matter. However, it did not provide a comment or explanation on the financial decision before or after news broke out, as per Fox News.
The US president took out the line of credit as his son faces a federal investigation over his tax affairs. Between 25 and 30 classified documents were discovered during his time as vice president.
The Democrat's lawyers found the classified documents at the Washington, DC, office for his think tank, the Penn Biden Center for Diplomacy and Global Engagement. They were discovered in early November, while another set of materials was found in the garage of his Wilmington, Delaware, home in December.
The incidents prompted Attorney General Merrick Garland to appoint US Attorney Robert Hur as special counsel in mid-January to investigate the president's handling of the classified documents.
Read Also : What To Know About $450 Energy Relief Checks
Flurry of Investigations
Paperwork regarding the line of credit did not reveal Biden's reasoning for taking out the funds on the home he and his wife bought for nearly $3 million in 2017. However, according to the New York Post, the mortgage documents were filed a month after the discovery of the classified documents.
FBI personnel on Wednesday searched Biden's Rehoboth home as part of the investigation regarding the handling of classified documents. However, they did not find any new sensitive materials. The White House added that the president cooperates with officials regarding the probe.
On the other hand, the House Oversight Committee is set to commence hearings next week on the president's son's alleged influence peddling. The committee will also hear claims Hunter cashed in on his ties to his father to get millions of dollars from foreign companies.
Some argue that the line of credit was taken out so that Biden could pay for mounting legal fees amid a flurry of investigations regarding classified documents and his son's alleged schemes. It comes as the Democrat earns roughly $400,000 as president. He and his wife's assets are worth between $1 million and $2.6 million, and they were found to owe about $500,000 on their Wilmington home, said the Daily Mail.
Related Article: Biden Sends Warning to China in Union Address
