Community | April 16, 2011 | 2 comments

Mitt Romney writes off $250,000 in 200 loans

source: http://bit.ly/h2Rq7S

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letsliveinpeace
Mitt Romney is starting his 2012 presidential campaign by forgiving the remaining debt his 2008 presidential campaign owed him for the millions of dollars in personal checks he wrote to it.

The former Massachusetts governor last month wrote off $250,000 in loans to his campaign committee, according to a report the committee filed Friday with the Federal Election Commission.



Candidates are allowed to contribute unlimited amounts of money to their own campaigns, and, technically, what Romney’s campaign committee did was akin to converting $250,000 in loans from the candidate to contributions. Romney has now taken similar steps with all of the $45 million in loans he made to his 2008 campaign. And Friday’s report shows that, since Romney ended his 2008 campaign, he also has contributed another $52,500 from his pocket to his committee to pay for wind-down costs.
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2 comments // Mitt Romney writes off $250,000 in 200 loans

  • letsliveinpeace
    • +1
      letsliveinpeace  

    • Mitt Romney
      80 Hayden Avenue
      Lexington, Massachusetts 02421
      April 11, 2011
      Processing Division
      Federal Election Commission
      999 E Street, NW
      Washington, DC 20463
      RE: FEC Form 2

      To Whom it may Conern:

      Iam today forming Romney for President Exploratory Committee, Inc., as the first step in a campaign for the 2012 Republican nomination for President of the United States. While the creation of my exploratory committee does not constitute a formal
      announcement of candidacy, I have reached the legal threshold for filing FEC Form 2. Thus, please accept this letter as my FEC Form 2 in order to ensure compliance with the Federal Election Campaign Act. See 2 U.S.C.s. 432(e)(1); 11 C.F.R. I am today forming Romney for President Exploratory Committee, Inc., as the first step in a campaign for the 2012 Republican nomination for President of the United States. While the creation of my exploratory committee does not constitute a formal announcement of candidacy, I have reached the legal threshold for filing FEC Form 2. Thus, please
      accept this letter as my FEC Form 2 in order to ensure compliance with the Federal Election Campaign Act. See 2 U.S.C.
      s. 432(e)(1); 11 C.F.R. s. 100.3s. 100.3 amended Statement of Oganization (FECForm 1) is being filed today pursuant to 11C.F.R.s. 102.1.

      Sincerely,

      Mitt Romney

    • 1 year ago
  • letsliveinpeace
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