Sam Bankman-Fried's father drafted tax legislation for Elizabeth Warren, donated thousands to Dems

Posted 74 days ago

From WWW.FOXNEWS.COM

Joseph Bankman, the father of embattled FTX founder Sam Bankman-Fried, helped Sen. Elizabeth Warren, D-Mass., draft legislation to simplify the tax code in 2016.

After she introduced the Tax Filing Simplification Act in April 2016, Warren — who currently chairs both the Senate Banking Committee's economic policy subcommittee and Senate Finance Committee's fiscal responsibility subcommittee — touted the support of Bankman and dozens of other law professors and economists. Bankman, a law professor at Stanford University, penned a letter of support for the bill, which other scholars signed.

"We, the 54 undersigned law professors and economists, support the Tax Filing Simplification Act of 2016, introduced by Senator Warren to simplify tax filing for all American taxpayers," the letter stated.

"These provisions should substantially reduce record-keeping and filing costs," it continued. "The provisions should also reduce post-filing adjustments and audits by reducing the number of mistakes taxpayers make when filling out forms."

HERE ARE THE DEMS WHO BENEFITED FROM THE LEFT-WING PAC THAT FTX FUNNELED $27M THROUGH

But Bankman's involvement with the legislation reportedly went further than the letter of support. The Stanford scholar was involved in writing the bill, which ultimately stalled in committee, according to Fortune magazine.

Despite its failure to move forward to a floor vote, the legislation received endorsements from Sens. Bernie Sanders, I-Vt.; Sheldon Whitehouse, D-R. I.; Tammy Baldwin, D-Wis.; then-Sen. Tom Udall, D-N.M.; Jeanne Shaheen, D-N.H.; Ed Markey, D-Mass.; and then-Sen. Al Franken, D-Minn.... (Read more)