According to a report from the Wall Street Journal, Ted Cruz was caught red-handed doing a very corrupt deal. Sen. Ted Cruz (R-TX) lent a helping hand to two fracking billionaires by asking for changes to rules that would allow them to acquire a $35 million COVID-19 relief loan aimed at helping struggling businesses to stay afloat. The report notes that Texas billionaires Dan and Farris Wilks were on a buying spree as the coronavirus pandemic spread across the country by buying up bankrupt competitors and investing in others — only to find they were prohibited from taking advantage of the government-backed loan program as one of their many companies struggled. According to WSJ, they then reached out to Cruz for help and soon after the US Government changed the rules of its lending program in April. A Wilks Lending company, Pro-Frack Holdings LLC, applied for and received a 35 million dollar loan, federal records show. The Wilks brothers are long time financial backers of Mr.Cruz, and in fact have donated 15 million to a Super PAC called “Keeping the Promise”, that championed Mr.Cruz’s presidential campaign, making them the largest financial backers of his political career.
Not only does this behavior exhibit corruption, but also showcases corporate socialism. Ted Cruz depicts himself as a small government conservative yet his backdoor business dealings with these brotherly billionaire backers suggest otherwise. Many American voters also had brought up the hypocritical nature of his actions by referencing back to his populist representation of workers in his 2016 Presidential campaign run. Cruz’s underhanded exposure demystifies questioning of his political views on how an unlimited sum of money should be accessible within politics due to Freedom of Speech rights. Ultimately suggesting free capabilities into having direct access to money being provided by donors instead of the alternative Super PACs serve as under today’s restrictions. Cruz has found himself in a sticky situation, and now likely has an added vulnerability for democrats to poke at if he chooses to run again in the 2024 election.