FEC records indicate Rep. Paul Broun’s campaign paid him nearly $29,000 in “operating expenses/loan interest” in 2010.
Rep. Mike Capuano (D-Mass.) made four loans totaling $90,000 to his now-defunct Senate campaign committee in late 2009. Although each of the loans lists a 4 percent interest rate, they did not appear on his financial disclosure for that year.
“Congressman Capuano properly lists the outstanding loan he personally made to his campaign and lists an interest rate simply because FEC rules require it,” said his spokeswoman, Alison Mills. “He has never intended to pay himself interest, has not done so and will not do so in the future.”
An attorney who specializes in campaign finance, who asked not to be identified, said Members do not have to accept interest, even if they list it on their campaign finance reports.
“My experience is that many candidates don’t actually pay the listed interest to themselves — they just forgive it after their last campaign, which is a personal contribution to their campaign,” the attorney said.
But individuals familiar with the House ethics process said the disclosure process is not triggered by whether a Member actually receives interest payments, but merely by whether the lawmaker charges an interest rate.
Correction: March 21, 2011
The article incorrectly stated that Rep. Lou Barletta (R-Pa.) did not report personal loans on his campaign finance report. He did not report them on his most recent personal financial disclosure report.
Roll Call has launched a new feature, Hill Navigator, to advise congressional staffers and would-be staffers on how to manage workplace issues on Capitol Hill. Please send us your questions — anything from office etiquette, to handling awkward moments, to what happens when the work life gets too personal. Submissions will be treated anonymously.
