Ted Cruz’s FEC lawsuit could give special interests more power in federal elections
Sen. Ted Cruz (R-Texas) has sued the FEC in an attempt to overturn rules that limit how much money a candidate can raise to reimburse themselves for campaign loans, Buzzfeed News reported Monday.
Brendan Fischer, director of federal reform at Campaign Legal Center, said these contributions “effectively go straight into” the candidate’s pockets. He also noted that Cruz took out a margin loan from Goldman Sachs before loaning money to his own campaign. “So Ted Cruz is advocating for a world where candidates can get Wall Street banks to finance their run for office, and then after winning election, those candidates can tap lobbyists and deep-pocketed special interests to pay back those Wall Street loans,” Fischer said.
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