Ted Cruz Just Got a Big Fine From the Federal Elections Commission For Hiding Wall Street Money

Zach Gibson/Getty Images

Senator Ted Cruz is facing a $35,000 fine from the Federal Elections Commission after he failed to report a loan from Goldman Sachs during his 2012 Senate race.

The loan, which was first reported by the New York Times in 2016, wasn’t disclosed when Cruz’s campaign filed their reports. Cruz’s wife Heidi worked at Goldman Sachs at the time. On Friday, Mike McIntire, the New York Times reporter who broke the story three years ago, tweeted that the FEC fined Cruz.

At the time, a spokesperson for Cruz’s campaign told the Times that the failure to report the loan was “inadvertent” and that the campaign would work to correct the error with updated reports.

The Campaign Legal Center, which filed an FEC complaint against Cruz in 2016, wrote on Friday that the loans totaled $1,064,000. The organization also noted that Cruz claimed that he and his wife decided to “liquidate” their assets to fund his campaign.

The Goldman Sachs loan isn’t the only time that Cruz has run into trouble with the FEC. In fact, he’s a frequent topic of their ire. In 2018, the FEC sent three letters to Cruz’s campaign for possible violations. The Houston Chronicle reported that was more than any other Senate re-election campaign of that year and only a handful of other Senators received such a letter.

The 2018 violations stemmed from Cruz’s camp taking tens of thousands of dollars more than was legally allowed from donors. The Chronicle also reported that a woman who donated to Cruz was forced to file an FEC complaint just so his campaign would stop taking a monthly donation out of her bank account.

In 2018, Cruz lagged behind Beto O’Rourke as the dynamic candidate pulled in donations. At the end of the race, O’Rourke raised almost 79 million while Cruz was just over 45 million. O’Rourke has since announced that he’s running for president and we can probably expect his fundraising talents to continue to impress.

What do you think?

5 points
Upvote Downvote

5
Leave a Reply

Please Login to comment
2 Comment threads
3 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
4 Comment authors
Rocky DrummondPhyllis SoftaJamesEd Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
James
Member
James

What about AOC’s violations of the FEC rules? What about O’Rourke’s violations of the FEC rules? What about Tliab’s violations of FEC rules? Don’t they count as election rules violations because they’re masquerading as Democrats?

Phyllis Softa
Member
Phyllis Softa

No, James, only Republican violations count. That’s why you have never read any news articles or heard any reporting on the elected officials’ alleged violations you mentioned—Which begs the question, how do you perceive that you are aware of the violations if they weren’t reported?

Ed
Member
Ed

So, this single election cost more than $124M? With 50 Senators and 435 Representatives, plus the President, how much do we spend on elections?!? This is madness.

Phyllis Softa
Member
Phyllis Softa

Madness, indeed.

Rocky Drummond
Member
Rocky Drummond

That $124M wasn’t the “cost of the election”. That was just the claimed combined amount of their donations. Year Total Raised Congressional Presidential 2018 $5,725,183,133 $5,725,183,133 N/A 2016* $6,511,181,587 $4,124,304,874 $2,386,876,712 If you want to help get money out of politics, please check out wolf-pac .com (The formatting didn’t keep.)

Jeb Bush Thinks Another GOP Contender Should Jump in 2020 Race: ‘Republicans Ought to Be Given a Choice’

Alexandria Ocasio-Cortez

AOC Blasts the NRA After New Zealand Shooting: ‘What Good Are Your Thoughts & Prayers?’