In new information revealed today, the latest to join the pack of dirty Republican politicians is Ted Cruz. The price tag for participation? $35,000.
The fine was slapped onto the politician by the Federal Election Commission (FEC). FEC‘s fine on the Texas Republican Senator is for failing to disclose loans he obtained for his 2012 Senate bid.
Cruz is in hot water over loans he received from Goldman Sachs and Citibank; loans that he inevitably injected into his campaign as ‘personal’ funds. All-in-all, Cruz injected over $1 million in personal funds for his campaign.
You can view his campaigns’ receipts more extensively here.
Here is a short video from 2012 promoting the Republican Party of Texas Convention. In the video description on YouTube, a link is shared where Cruz urges you to donate:
This fine stems from a previous complaint filed in 2016 by Campaign Legal Center (CLC) over the contributions mentioned above. You can view the full complaint here.
As a result, the FEC found that Cruz had violated the campaign finance statute. Per federal election law, candidates are allowed to take out loans as they wish, however, the funding sources must be properly disclosed. In addition, interest rates paid and the loans’ terms need to be provided.
Just last month the subject of political finance took center stage on Capitol Hill. Representative Alexandria Ocasio-Cortez offered a sharply pointed explanation on dark money in politics which can be seen below.
In conclusion, the FEC stated in a letter to the CLC that it accepts a conciliatory agreement from the Cruz campaign. That letter can be viewed here.
In a statement to The Hill the Cruz campaign said:
‘As has repeatedly been reported, the loans were public at the time and fully disclosed on Senate ethics disclosures, but they weren’t reported correctly on the FEC forms. This agreed settlement resolves that filing mistake once and for all.’
Featured image via YouTube screenshot.