Clinton writes off her loans
Hillary Rodham Clinton has written off $13.1 million in personal funds she lent to her failed presidential campaign, new disclosure reports filed with the Federal Election Commission show.
Clinton lent the money in several installments last spring as she fought Barack Obama for the Democratic presidential nomination, a battle she ultimately lost.
The former first lady and New York senator has been working to pay off the debt to clear the way for confirmation as Obama’s secretary of State. Federal ethics rules prohibit Cabinet officials from actively soliciting campaign contributions.
Since suspending her campaign in June, Clinton has told donors she would absorb the personal loan and would not be raising money to pay it off.
The campaign’s latest FEC report, filed Saturday, was the first to reflect that she had formally forgiven the loan.
Clinton and her husband, former President Clinton, have amassed significant wealth since leaving the White House. The couple have reported earnings of $109 million during the period.
Get the L.A. Times Politics newsletter
Deeply reported insights into legislation, politics and policy from Sacramento, Washington and beyond. In your inbox three times per week.
You may occasionally receive promotional content from the Los Angeles Times.
