FEC SPURNS LAUTENBERG’S ATTEMPT TO HAVE SPECIAL INTERESTS PAY OFF HIS PERSONAL CAMPAIGN LOANS

Lawrenceville, NJ – In a unanimous, bipartisan vote, the Federal Election Commission (FEC) today rejected Senator Frank Lautenberg’s attempt to flout the law that prohibits him from accepting unlimited special-interest contributions to pay back his personal campaign loans after the election. Click here to view FEC’s Draft Advisory Opinion.

Zimmer for Senate Communications Director Kristen Hainen today issued the following statement:

“The fact that all the Republican and Democratic members of the FEC totally rejected Senator Lautenberg self-serving attempt to pay off his personal campaign loans with unlimited special-interest contributions reveals how outrageous it was.”

In a letter dated July 25, Lautenberg’s lawyers quietly asked the FEC to rule that the loan-repayment provision at issue, which is part of the so-called Millionaires’ Amendment to the McCain-Feingold law, is unconstitutional. Only a few weeks before, Lautenberg had endorsed the Millionaires’ Amendment, saying that it “leveled the playing field.” (“Dick Zimmer Races to Raise Cash and Make a Name.” The Star-Ledger. 6 July 2008)

“It is disappointing that at a time when New Jersey families are struggling with soaring gas prices and property taxes, Senator Lautenberg was scheming to put unlimited special interest money into his personal bank account,” Hainen said. “New Jersey taxpayers need a Senator who will put New Jersey’s interests first.”

The 2002 McCain-Feingold campaign finance reform law provides that any personal campaign loans exceeding $250,000 that are not repaid within 20 days of an election will be considered to be nonrefundable campaign contributions. The law was intended to avoid special-interest contributions going straight into newly elected or reelected officeholders' pockets. According to Senator Lautenberg’s most recent FEC reports, his 2008 campaign owed him $1.65 million as of June 30.