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(The Center Square) – Rep. Jim Banks, R-Ind., sent a letter to President Joe Biden this week asking him to explain why he reportedly used a tax loophole to avoid paying $500,000 in payroll taxes. In a letter written this week, Banks, who serves as Republican Study Committee chairman, asked Biden, “Do you intend to undo your hypocrisy and pay these funds back to the American people?” Banks said that $13 million worth of income redirected into two S-corporations enabled Biden to avoid paying personal income taxes by directing revenue from book royalties and speaking appearances and not paying self-employment payroll tax liabilities that would have funded Medicare and other federal programs.

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