Hovde took tobacco subsidies

Firm collected $8,000 in program benefiting tobacco farms
Hovde took tobacco subsidies

Republican U.S. Senate candidate Eric Hovde campaigns against federal farm subsidies, but his realty firm collected at least $8,000 from the government under a program benefiting tobacco farms.

Hovde is a hedge fund manager and also CEO of Hovde Realty Inc. He is in a four-way race for the Republican nomination for U.S. Senate. The primary is Aug. 14.

Hovde has been trying to position himself as a fiscal conservative and has taken a stance against farm subsidies.

But a government website that tracks where federal money is spent shows that between 2010 and 2012, Hovde’s real estate firm was paid $7,989 under the Tobacco Transition Payment Program.

Hovde said Thursday that he didn’t know his firm applied for the subsidies and he opposes them.

Comments

comments