Last year, the Washington Post revealed Budd’s “family’s calamitous involvement in a company called AgriBioTech, which ended in a bankruptcy case that cost farmers millions of dollars in losses.” Now, a new report reveals that in addition to Ted Budd and his family paying themselves millions right before declaring bankruptcy and screwing farmers out of millions, AgriBioTech owed over $1.3 million in taxes, including $33,000 in North Carolina state taxes.

Read more:

Cardinal & Pine: Ted Budd Touts Himself as an Ally to Farmers, But His Record Paints a Complicated Picture

• Agriculture is one of the leading industries in North Carolina, with more than 52,000 farms across the state. Budd’s voting record on agriculture and farming is complicated, the Budd family was involved with a now-bankrupt company that cost farmers across 39 states millions and left a substantial tax debt, including in N.C.
• The bankruptcy, coming a few months after the Budd family got its loan back in full, meant that some 1,200 farmers in 39 states did not get the money they were owed, the Post said, an amount exceeding $50 million.
• And according to court documents reviewed by Cardinal & Pine, AgriBioTech also owed $1.3 million in taxes, including $33,000 in North Carolina state taxes.

###