Skip to content

Sen. Ted Cruz Reports Half-Million in Assets That May Not Be Obtainable

cruz
cruz

Sen. Ted Cruz,
R-Texas, has listed as an asset on his personal financial wealth statement over a half-million dollars that may never be legally obtainable.

As of the end of 2012, Cruz listed a “Loan to Ted Cruz For Senate” as an asset valued at $500,001 to $1 million. However, because of the 2002 changes to campaign finance law, the committee is limited to making loan repayments to the candidate (1) from funds received before an election, or (2) $250,000 from funds received after an election. Because of earlier loan repayments, as of the end of 2012, the committee could only legally repay the candidate $298,000. This includes $48,000 for his outstanding primary election loans, and $250,000 for his outstanding runoff election loans.

Cruz does list on his personal financial disclosure report as liabilities two loans received in 2012. One was a margin loan of $250,001 to $500,000 from Goldman Sachs. The other was a line of credit of $250,001 to $500,000 obtained from Citibank.

During the first three months of 2013, the Ted Cruz for Senate committee raised $281,863 from individuals and $92,750 from PACs and other committees.

Recent Stories

UN agencies in dire straits amid threatened US funding cuts

Lawmakers applaud resumption of US military aid to Ukraine

Supreme Court allows Trump mass layoffs to move forward

Trump slams Putin, touts self-made tariff deals and muses on gold leaf

Nebraska independent Dan Osborn makes another bid for Senate

Capitol Ink | Gilding the Congress