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Ted Cruz: “By calling it a loan, number one, you don't have to report…”

Featuring: Ted Cruz, Republican | U.S. Senate, Texas

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EXCLUSIVE PART 1 - JAMES COMER ON BIDEN CORRUPTION | Verdict Ep.191

Published | Video Starts at 13:33

So 14 million was the amount of loans you found so far? Yes, for Jim and Hunter Biden. And look, just to underscore what you said. Cause it's important By calling it a loan, number one, you don't have to report it to the IR's. Number two, you don't have to pay taxes to the IR's. But of course it's gotta be a real loan. It can't be just fraudental and all right, I've gotten loans over the course of my life. (13:33–13:42)

CLAIM

Asserts that calling money a loan avoids reporting it to the IRS and paying taxes on it.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.


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PolitiQuote is a civic library index to statements made by politicians in publicly available video records. The index is created automatically from transcripts, with no editorial oversight or analysis. Highlighted quotes are selected by AI. Words may be added in parentheses to offer context for the quote. There may be errors in the transcription and display, so listen to the video to ensure accuracy.

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