Marco Rubio presidential campaign owes $1.5M in debt - Florida Politics

Marco Rubio presidential campaign owes $1.5M in debt

Marco Rubio might be running for re-election, but his presidential campaign is still more than $1 million in the red.

Campaign finance records filed with the Federal Election Commission show Rubio’s presidential campaign had more than $1.5 million in debt as of Sept. 30. The sum includes the costs of telemarketing services, media production, and legal fees.

According to campaign finance records, the presidential campaign owed $570,657 for telemarketing; $315,000 for media production; $167,000 for legal fees; $350,000 for strategic consulting; and $130,000 for web services.

It may seem like a lot, but the campaign has continued to whittle down its outstanding debt each reporting period. Records show the presidential campaign had more than $1.9 million in debt at the end of March.

Rubio ended his presidential bid in March, after he came in second to Donald Trump in Florida’s presidential preference primary. He announced he was running for re-election in June, just days before the qualifying deadline.

It’s not unusual for presidential campaigns to carry debt well after the race is over. In May, the Wall Street Journal reported former presidential hopefuls owed more than $5.4 million.

Paying down the debt could take years. According to the Wall Street Journal, Hillary Clinton, now the Democratic nominee, didn’t pay off debt for her 2008 presidential campaign until 2012.

Former House Speaker Newt Gingrich is still trying to pay down the debt from his 2012 presidential bid. According to the most recent campaign filing, Gingrich still owed $4.6 million for his 2012 campaign.

Rubio isn’t the only 2016 hopeful whose campaign is still carrying some debt.

Campaign finance records filed with the Federal Election Commission show Ted Cruz’s presidential campaign owed $368,063 through Aug. 31; while Bernie Sanders, a 2016 Democratic presidential hopeful, owed $472,011 at the end of August.

Jeb Bush’s presidential campaign owed $250,000, down from $452,065 at the end of February. Bush ended his presidential bid after the South Carolina primary. Meanwhile, Chris Christie’s campaign still owes $170,505; while Rand Paul’s presidential campaign owes $301,107.

 

Share On Facebook
Share On Twitter
Share On Google Plus
Share On Linkedin
Share On Pinterest
Share On Reddit
Share On Stumbleupon
Share On Youtube
Contact us
Show Buttons
Hide Buttons