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George Holding (NC-02): Swamp Creature

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George Holding (NC-02): Swamp Creature GEORGE HOLDING (NC-02) Swamp Creature | 1 George Holding (NC-02): Swamp Creature Significant Findings Holding took three privately funded trips worth over $40,000 since taking office, in addition to 15 taxpayer funded trips worth more than $100,000. Holding even traveled during recess while other members held town halls with their constituents, and called town halls a waste. Holding voted to help out his family’s bank, in which he also had a significant financial interest. Holding owned between $1 million and $5 million in First Citizens Bank shares and First Citizens Bank’s PAC donated $4,000 to Holding. Holding voted against funding for investigations similar to the one targeting his family’s bank. Holding repeatedly voted to make it more difficult to enforce fair housing claims. Holding and his family’s real estate partnership would benefit from his vote for the Republican tax scam. 8,510 millionaires in North Carolina, likely including Holding, would receive more than 51 percent of the Republican bill’s benefits. The Republican tax bill had a specific loophole that would benefit Holding’s income from his real estate partnership – in 2017 alone, Holding made between $15,001 and $50,000 from the partnership. Holding has made at least $100,000 from the pharmaceutical industry and he voted for the Republican tax scam that was a “major victory for pharma investors.” Holding has made more than $80,000 from his energy company assets and voted to protect oil and gas company interests. Holding was an ineffective and absent representative for his constituents. Holding owned a condo in DC. Holding called town halls a waste and “opportunities to protest.” Only two of Holding’s sponsored bills have become law; overall, Holding consistently sponsored or co-sponsored fewer bills that most of the North Carolina delegation. GEORGE HOLDING (NC-02) Swamp Creature | 2 Biography George Holding is a Member of Congress representing North Carolina’s 2nd Congressional District and has served in that position since 2013. Born April 17, 1968 in Raleigh, North Carolina Education: Wake Forest University, B.A. (1991); University of St. Andrews (1991-1992); Wake Forest University, J.D. 1996) Was an aide to Sen. Jesse Helms (1998-2002) Served as U.S. Attorney for the Eastern District of North Carolina (2006- 2011), and prosecuted former Sen. John Edwards Holding Benefitted From The Perks Of Congress Holding Has Received $870,000 In Taxpayer Funded Salary Holding receives a Congressional salary of $174,000. Over his four years served in Congress, Holding has received a total of $870,000 in taxpayer-funded salary. Year Congressional Salary 2013 $174,000 2014 $174,000 2015 $174,000 2016 $174,000 2017 $174,000 TOTAL $870,000 [Congressional Research Service, 6/21/16] Holding Voted To Raise His Own Pay 2015: Holding Voted Against Passage Of An Appropriations Bill That Banned A COLA For Members Of Congress For 2016. In December 2015, Holding voted against: “Rogers, R-Ky., motion to concur in the Senate amendment to the bill with an amendment that would provide $1.15 trillion in discretionary appropriations through Sept. 30, 2016 for federal departments and agencies covered by the fiscal 2016 spending bills. Included in that total is: $21.75 billion for Agriculture, $55.7 billion for Commerce-Justice-Science, $572.7 billion for Defense, $37.2 billion for Energy-Water, $23.2 billion for Financial Services, $41 billion for Homeland Security, $32.2 billion for Interior-Environment, $162.1 billion for Labor-HHS-Education, $4.4 billion for Legislative, $79.9 billion Military Construction-Veterans Affairs, $52.8 billion for State-Foreign Operations, and $114 billion for Transportation- HUD. The measure would end the U.S. ban on crude oil exports and would reauthorize health care and victim compensation programs for 9/11 first-responders.” A vote yes was a vote to block a pay increase. The motion passed by a vote of 316-113. [CQ, 12/18/15; HR 2029, Vote #705, 12/18/15] 2013: Holding Voted Against Continuing Appropriations That Blocked COLA For Members. In May 2014, Holding voted against: “Passage of the bill that would provide $3.3 billion for legislative branch operations, excluding Senate operations, in fiscal 2015. The total would include $1.2 billion for House operations, $595 million for the Library of Congress, $519.6 million for the Government Accountability Office, $488.6 million for the Architect of the Capitol and $348 million for the Capitol Police.” According to the Congressional Research Service, “The Continuing Appropriations Act, 2014 (P.L. 113-46, Section 146, enacted October 17, 2013), prohibited the GEORGE HOLDING (NC-02) Swamp Creature | 3 scheduled 2014 pay adjustment for Members of Congress.” A vote yes was a vote to block pay increases. The bill passed 285-144. [CRS, 6/21/16; CQ, 10/16/13; HR2775, Vote #550, 10/16/13] NOTE: When using this research, keep in mind that Holding has also voted on various occasions against raising his own pay. Holding Would Receive $17,748 Per Year In Taxpayer Funded Pension According to the Office of Personnel Management, a “Member of Congress or Congressional Employee (or any combination of the two) must have at least 5 years of service as a Member of Congress and/or Congressional Employee” to qualify for their retirement annuity. The annual pension is calculated as “1.7% of your high-3 average salary multiplied by your years of service as a Member of Congress or Congressional Employee which do not exceed 20, PLUS 1% of your high-3 average salary multiplied by your years of other service.” [Office of Personnel Management, accessed 7/18/17] For Members who joined after 1991, the annual pension is calculated as: [The Atlantic, 10/2/15; Congressional Research Service, 11/10/16] For any current Member eligible for their pension, their High-3 would be $174,000, making the formula: [$174,000 x .017 x Years of Service (Max 20)] + [$174,0000 x .01 x (Years of Service Over 20)] = Annual Pension [$174,000 x .017 x Years of Service (6) = $17,748] + [$174,0000 x .01 x (0) = $0] = Annual Pension = $17,748 If Holding retired at the end of his current term, he would receive $17,748 in annual taxpayer-funded pension. Holding’s Net Worth Ranked 46th In The U.S. House of Representatives According To The Center For Responsive Politics, Holding’s Net Worth Ranked 46th In The House. When Holding first took office, his net worth was an estimated $5.88 million. Between 2013 and 2016, his net worth fluctuated between $6.57 million and $4.855 million. [Center for Responsive Politics, accessed 6/27/18] [Center for Responsive Politics, accessed 6/27/18] GEORGE HOLDING (NC-02) Swamp Creature | 4 Much Of Holding’s Money Was Inherited From His Family, Which Owned The Controlling Stake In The Parent Company Of First Citizens Bank. “How he earned it: Holding, a former U.S. Attorney, has inherited much of his wealth from his family, which controls the parent company of First Citizens Bank. He has also made money working in private practice as an attorney.” [Business Insider, 1/18/13] Holding Pushed For Elimination Of The Estate Tax: “Hey, It Benefits Everybody… I Sure Do Wish We Had The Elimination Of The Inheritance Tax When My Father Died Back When I Was 10 Years Old And He Was 54 Years Old And He Was Chairman Of A Bank.” “The bill would eliminate the estate tax, a change that would be a boon to the nation’s wealthiest families. Holding fought for the elimination of the gift tax, which taxes gifts of more than $14,000 in a year. When asked about the perception that the bill helps wealthy families like his own, Holding didn’t dispute it. ‘Hey, it benefits everybody,’ he said. ‘I sure do wish we had the elimination of the inheritance tax when my father died back when I was 10 years old and he was 54 years old and he was chairman of a bank. A great deal of the wealth that he had accumulated went to the federal government. So I feel like I’m a day late and a dollar short achieving that.’” [McClatchy, 11/7/17] Even Before The 2018 Republican Tax Bill, Only The 0.1% Wealthiest Estates Paid An Estate Tax. “Only 1 out of every 700 deaths results in paying the federal estate tax today. The vast majority of estates — 99.9% — do not pay federal estate taxes.” [Americans For Tax Fairness, 2014] Holding Has Received Over $100,000 In Taxpayer-Funded Travel To More Than 20 Countries 2013 – 2018: Holding Has Received Over $100,000 In Taxpayer-Funded Travel To More Than 20 Countries. [Political Money Line, George E Holding, accessed 8/30/18] Taxpayer-Funded Travel Year Sponsor Country Dates Amount 2018 COMMITTEE ON WAYS AND MEANS Italy, Botswana, 5/25/2018 - 6/2/2018 $6,079 Mozambique, Angola, Sierra Leone 2018 COMMITTEE ON WAYS AND MEANS Israel 5/11/2018 - 5/15/2018 $1,040 2018 COMMITTEE ON WAYS AND MEANS West Africa, Europe 4/3/2018 - 4/9/2018 $11,038 2018 DELEGATION TO UNITED KINGDOM United Kingdom 2/18/2018 - 2/24/2018 $3,680 2017 COMMITTEE ON WAYS AND MEANS Jordan, Israel 5/27/2017 - 6/1/2017 $12,326 2017 COMMITTEE ON WAYS AND MEANS United Kingdom, India, Sri 2/18/2017 - 2/26/2017 $2,254 Lanka, Austria 2017 COMMITTEE ON WAYS AND MEANS Switzerland 1/15/2017 - 1/19/2017 $3,330 2015 COMMITTEE ON WAYS AND MEANS Vietnam, Singapore, 10/11/2015 - 10/17/2015 $2,134 Malaysia, The Philippines 2015 DELEGATION TO LATVIA Latvia 6/27/2015 - 6/29/2015 $3,734 2015 COMMITTEE ON WAYS AND MEANS Europe 5/7/2015 - 5/10/2015 $2,751 2015 DELEGATION TO THE UNITED United Kingdom, Jordan 3/27/2015 - 3/30/2015 $7,011 KINGDOM, JORDAN, KUWAIT, IRAQ, SAUDI ARABIA,
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