Georgia's Ultra-Rich Loeffler’s Family Has Taken In $3 Million in Farm Subsidies.

 

The Richest Politician On Capitol Hill 

Members of the U.S. Senate, who had received early briefings on the potential effects of the coronavirus, had dumped stock positions, allowing them to avoid massive losses. No one had ditched more than newly appointed Georgia Republican Kelly Loeffler, who got rid of more than $20 million of shares from late January to March.

Loeffler and her husband, Jeff Sprecher, CEO of global exchange operator ICE, have an estimated $800 million fortune.

Meanwhile, the Loeffler family farm continues to operate, and several of Loeffler’s family members continue to pull in significant sums of money from government agriculture subsidies. Despite allies of Loeffler slamming her conservative opponent Collins for supporting the farm bill that provides such subsidies to farmers, five of her family members have received more than $3.2 million in federal benefits since 1995. A significant share of that, $770,242, has come since 2018, as a result of farm bailout funds that President Trump has offered to compensate for the trade war with China and the pandemic.