Rep. Chuck Edwards’ company, C. Edwards Group Inc., received a $1.12 million Paycheck Protection Program loan in April 2020 that was fully forgiven, covering his McDonald’s franchises in western North Carolina. As a state senator, he later sponsored a bill letting businesses deduct expenses paid with forgiven PPP loans—a move estimated to save his own company $40,000 to $50,000 in taxes. But once in Congress, Edwards voted twice to block federal student-debt relief programs and publicly called President Biden’s forgiveness plan “unfair,” even though he personally benefited from over a million dollars in forgiven government-backed loans.
- SBA data show C. Edwards Group Inc. in Hendersonville, NC received a $1.12 million PPP loan on April 15, 2020; the loan (with accrued interest) was fully forgiven. (projects.propublica.org)
- Local reporting ties that PPP loan to Edwards’ McDonald’s franchises and notes the loan (and interest) were forgiven. (smokymountainnews.com)
- Edwards is the owner of C. Edwards Group, which operates multiple McDonald’s locations in Western North Carolina. (avlwatchdog.org)
- In 2021, Sen. Chuck Edwards was the primary sponsor of a bill to allow North Carolina businesses to deduct expenses paid with forgiven PPP loans; his business had accepted over $1.1 million in PPP funds, and the change was estimated to reduce his tax liability by $40,000–$50,000. (wbtv.com)
- North Carolina’s 2021 budget ultimately conformed state tax law to federal PPP expense deductibility, allowing businesses to deduct expenses paid with forgiven PPP funds. (parkerpoe.com)
- On May 24, 2023, Edwards voted “Yea” on H.J.Res. 45 to nullify the Education Department’s student loan forgiveness rule (House Roll Call 234 lists “Edwards, Chuck [R-NC] — Yea”). (congress.gov)
- On December 7, 2023, Edwards voted “Yea” on H.J.Res. 88 to disapprove the SAVE income‑driven repayment rule that lowers payments for many borrowers. (congress.gov)
- Edwards publicly criticized Biden’s student loan forgiveness as “unfair” and called it “a direct government giveaway,” contrasting it with PPP. (smokymountainnews.com)