- Clay Lacy Aviation, a private jet company, received a $27 million bailout from the federal government, according to a report from CNBC.
- The funds are a grant from the
CARES Act and won't need to be repaid, the report said. - The company's founder, Clay Lacy, donated the maximum amount to the Trump campaign in 2016 and gave $47,300 to the Republican National Committee the same year, according to OpenSecrets.
- The company itself gave $5,000 in 2018 to a Republican PAC.
- The Treasury Department told Business Insider that political affiliation has "absolutely no bearing" on funding. Clay Lacy Aviation did not respond to a request for comment.
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Clay Lacy Aviation, whose founder donated thousands to the Trump campaign in 2016, received a $27 million bailout from the federal government, according to a report from CNBC's Robert Frank.
In July 2016, just days after President Donald Trump became the Republican presidential nominee, Clay Lacy donated the maximum amount of $2,700 to Trump's campaign and gave $47,300 to the Republican National Committee, according to election filings compiled by OpenSecrets.
The company itself donated $5,000 in 2018 to the California Freedom and Prosperity Fund, a PAC that funded a candidate in the state's 2018 Republican congressional primary.
The millions the company received from the federal government through the CARES Act is a grant, not a loan, so it won't need to be paid back, according to the report. Clay Lacy Aviation received the largest grant among private jet companies benefitted by the CARES Act, the report said.
A spokeswoman for the Treasury Department, which oversees the disbursement of the funds, said in a statement to Business Insider that "political affiliation has absolutely no bearing" on "applicant eligibility, the amount of assistance provided, or use of funds." Eligibility standards were set by Congress and are verified by the Department of
The funds given to Clay Lacy Aviation can only be used for wages, salaries and benefits, and there are restrictions mandating recipients to keep employees on payrolls, the spokeswoman said.
Clay Lacy Aviation employs 530 people, according to its website. The company did not respond to a request for comment.
The company charters private jets for $2,600 to $12,000 per hour depending on the size of the plane.
A round-trip flight from Los Angeles to Hong Kong goes for $345,000 on the company's website.
The $27 million in federal funds come after other prominent Trump donors have received bailouts from the government. Business Insider's Tom LoBianco reported that Trump donor Monty Bennett's companies received $58 million in Paycheck Protection Program loans, making him the program's largest recipient. Bennett later said he would give back the funds.
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