The House Ways and Means Committee, led by Chairman Jason Smith (R-MO), is delving into the financial relationship between the Penn Biden Center and the University of Pennsylvania.
This inquiry follows suspicions about potential foreign funding sources for the center, despite claims that it does not accept contributions or gifts.
In a letter also signed by Rep. Greg Murphy (R-NC), the committee highlights the connection between the center’s establishment, increased foreign investment at the university, and President Biden’s family seeking business opportunities in China.
The letter demands information on the legal relationship between the two entities and the percentage of the center’s annual expenses funded by the university.
Additionally, it requests details on the university’s investments in three “adversarial entities ” on U.S. government-restricted lists. The University of Pennsylvania previously admitted to investing in entities on restricted lists.
Now, the letter asks the university to identify those entities and any investments in six Chinese entities added to the restricted lists after a Chinese spy balloon incident.
Joe Biden received around $900,000 during his two-year tenure at the Penn Biden Center before running for president in 2020. The investigation seeks to determine if foreign nations were financially supporting Biden during this time.
Earlier this year, the Penn Biden Center faced scrutiny when classified documents from Biden’s time as vice president were discovered in a locked closet at the center.
The files were found in November but were not disclosed until January. The GOP letter questions the university’s lack of effort to divest from questionable holdings.
Republicans are demanding a response from university officials by March 28, which should address divestment efforts and clarify the relationship between the center and the university.
