Creative Accounting in Texas Senate Republican Primary
Texas Lawyer Ted Cruz made a splash among the political chattering class with a seemingly impressive fundraising haul in the first reporting period for his U.S. Senate campaign.
The Cruz campaign was quick to boast about its success. In reality, the numbers tell a different story. According to the FEC, Cruz took in 61 donations over the federal contribution limit, including six donations over $9,000 and two $10,000 contributions received on the final day of the reporting period.
Digging further, it becomes clear that Cruz’s financial report is not the strong showing among the “grassroots” or Tea Partiers his campaign claims. More than 70% of the reported contributions were $500 and up and more than 200 contributions came from lawyers, attorneys or others in the legal profession.
In short, Cruz claimed to have raised $1 million. He appears to have exaggerated that figure by close to $150,000. Did he ask friends to give in excess of the federal contribution limits in the final hours to create a paper dragon? Looks that way...
Search for Rafael Edward Ted Cruz if you want to read the FEC report for yourself.
