In case you missed it, Stacey Abrams used her position as House Minority Leader to secure government-backed contracts for her company formerly known as NOWaccount in 2014.
In 2013, just ahead of applying for and receiving private lender status, NOWaccount’s revenue was just $100,000. Abrams was even touted as a “key manager” on the company’s application.
After the company secured government contracts, they were able to use federal taxpayer dollars to pay off unpaid loans, resulting in a tax burden on Americans across the country.
Abrams claimed to have “walled herself off” from NOWaccount’s government dealings, but the Government Accountability Institute found that she was “an integral part” of securing government-backed loans.
Though NOWaccount’s federally funded loan program ended in 2017, the company has since rebranded as “NOW Corp.” and recently secured $29 million in new financing from two investment groups. Similarly, Abrams’ net worth has increased from $109,000 in 2018 to $3.17 million in 2022.
“Stacey Abrams’ campaign website promises she will “invest in every person,” but her involvement with NOWaccount proves she is only interested in lining her own pockets. Come November, Georgians will ensure Stacey never has another opportunity to use her political status to take advantage of the people again.” – Georgia Republican Party Press Secretary Dani Repass
Read more here.