Senator Richard Burr is already under scrutiny over his exceedingly well timed stock sales just before coronavirus crashed the stock market. Not a big deal, except his sell orders apparently followed a confidential briefing regarding the potential global impact of the virus.
Another interesting Burr deal has now come to light. In 2017, Burr sold his Washington, DC, townhouse to a lobbyist who represented companies with business before committees on which Burr sits. The lobbyist, John Green, is also a long time contributor to Burr’s senatorial campaigns.
Green lobbied the Senate on behalf of Merck on the Right to Try Act, legislation that passed and allows terminally ill patients to get experimental drugs and limits the liability of health care companies. Burr, who sits on the Senate health committee, co-sponsored the legislation on Feb. 7, 2017, the same month that the sale of the house was being worked out.
Green also lobbied on behalf of the pharmaceutical industry on legislation that renewed the Food and Drug Administration’s ability to collect fees from drug and medical device companies to fund a fast approval process, which had bipartisan support. In hearings on the issue, Burr stood out for his pro-industry stances
Burr sold the townhouse to Green and four others, including two members of Green’s lobbying firm in a private transaction for $900,000. The price appears to be at the high end of the market, but not in itself out of line considering the location. However, the house was never placed on the open market and the details of the transaction have not been disclosed. That leaves some important questions unanswered. For example — since Burr got a great price for the property, but avoided a 6% real estate commission, does that $54,000 saving count as a gift to Burr? And, with a private sale, Burr was likely also able to avoid significant addition selling costs that would be customary in a standard real estate transaction. Would those savings be considered a gift?
There nothing wrong with a private real estate transaction. But, when the transaction takes place between a lobbyist/campaign contributor and a US Senator, it is reasonable to ask what kind of benefit did the Senator receive in the deal?
