As of 2012, Sen. Kay Hagan (D., N.C.) was the ninth-wealthiest member of the Senate, with an estimated net worth of $24 million. Much of that is tied to her husband, Chip, who is a partner at a Greensboro law firm and holds investments in a number of businesses. One of those businesses is JDC Manufacturing, which he co-owns with his two brothers.
THE POLITICO reports that JDC Manufacturing received almost $400,000 in federal grants and tax credits for green energy projects as part of the 2009 stimulus package:
Financial disclosure statements show that the Hagans’ income from JDC Manufacturing increased from less than $201 in 2008 to nearly $134,000 in 2013. Company representatives said higher rental income account for the uptick, not the stimulus-funded projects that were completed during that span.
Asked to explain, Hagan did was she always does, and ran away. Her campaign later denied any wrongdoing in the matter.