Most Active Stories
Tue January 31, 2012
Snyder re-pays himself $825,000 from campaign fund
By Rick Pluta, Michigan Public Radio Network
LANSING, MI –
An end-of-the-year campaign finance statement shows Governor Rick Snyder accepted more than $800,000 from his campaign account last year. He used the money to partially re-pay himself for cash he lent the campaign when he was running for office. We have more from Michigan Public Radio's Rick Pluta.
Governor Snyder worked for just a dollar last year. But he did take $825,000 from his campaign account to partially pay himself back for $6-million in loans from his personal fortune to his campaign. Seven payments last year were a start toward reimbursing the retired tech executive and venture capitalist.
The numbers are unusually large, but it is a common practice for politicians to lend their campaigns money and then re-pay themselves after an election.
The Snyder campaign money came primarily from individual contributions of up to $3,400. The governor does not accept PAC donations.
At the December 31 book-closing, the Rick Snyder for Michigan Fund had $534,000. The governor has indicated he intends to seek re-election in 2014.