Mixed Moods Regarding NRCC Funds

NRCC is experiencing financial mood swings. On the good side of the equation, according to Politicol the National Republican Congressional Committee (NRCC) is expected to announce this week that it has paid off every last cent of its estimated $19 million in debt from the last election cycle. In a letter to members, NRCC Chairman Tom Cole (R-OK) announced it had paid off the balance of an $8 million Wachovia loan from 2006, as well as an additional $10 million in back payments that were still owed to vendors for work done in the final months of that year. According to Rep. Cole, “Going forward, every penny you give the NRCC from your campaign account or raise for our events will be spent only on specials and the 2008 elections.”

On the reverse side, information continues to come out about the thefts by the former NRCC Treasurer. Today, the Washington Post reported that "three more political committees run by House Republicans have accused a former treasurer of diverting campaign funds. . . . In February, after his dismissal from the National Republican Congressional Committee [Christopher] Ward returned $4,200 to Hensarling's PAC and $3,500 to Dent's committee, FEC records show. The NRCC has accused Ward of diverting at least "several hundred thousand dollars" from committee coffers into his personal accounts. The FBI is investigating." See prior report: Former Treasurer Embezzled NRCC Funds

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Tags: FEC, fund raising, NRCC, Republican National Committee, RNC, election 2008 To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!