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Cruz failed to disclose second 2012 loan: report

The Hill logo The Hill 1/15/2016 Bradford Richardson
Cruz failed to disclose second 2012 loan: report © Provided by The Hill Cruz failed to disclose second 2012 loan: report

Sen. Ted Cruz (R-Texas) reportedly failed to disclose a second loan for as much as $500,000 from Citibank to fund his 2012 Senate campaign, according to a letter he sent to the Federal Election Commission (FEC) on Thursday.

The disclosure comes after the Republican presidential candidate was already facing scrutiny for failing to adequately report a Goldman Sachs loan of up to $500,000 he also used to fund his 2012 bid.

The one-page letter, obtained by the New York Times, said both loans were “inadvertently omitted” from the required filings.

The Citibank loan was a line of credit, according to the Times. It is not clear from the letter what collateral, if any, was used to obtain it.

Cruz has claimed on the campaign trail that he and his wife, Heidi, who works at Goldman Sachs, liquidated their entire family savings of more than $1 million to fund his long-shot Senate bid.

The issue of Cruz’s loan came up in Thursday night’s Republican primary debate, in which the senator blamed a “paperwork error” and said he had disclosed the loan in a separate filing.

“But, yes, I made a paperwork error, disclosing it on one piece of paper instead of the other,” he said. “But if that’s the best hit the New York Times has got, they’d better go back to the well.”

Republican primary front-runner Donald Trump, who is running neck-and-neck with Cruz in the Iowa caucuses, has called the loan a “very big thing,” but so far refrained from attacking Cruz directly on the issue. 

The Cruz campaign did not immediately respond to a request for comment.

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