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Capitol View®
Brett Neely

Bachmann pays down presidential debt

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WASHINGTON - It turns out that winding down a presidential campaign is a lot more complicated and time-consuming than starting one, as Michele Bachmann has certainly learned. The 6th District Republican congresswoman's presidential campaign, which ended in January 2012 after a sixth place showing in the Iowa caucus, continues to chip away at its debts, according to a federal filing on Monday.

The Federal Election Commission report shows that Bachmann's presidential campaign paid down $97,000 in debt and now owes just over $30,000 to creditors, mostly the campaign's accountants. Bachmann has been repaying the debt by transferring money from her flush congressional campaign account.

Among the big beneficiaries of the debt repayment are former campaign manager Keith Nahigian, whose company received $76,000. Lawyers with the Washington firm Patton Boggs also got a $55,000 payday from the campaign for a combination of old debts and fees that were likely incurred from the Bachmann presidential campaign's various legal issues.

In late May, Bachmann announced her intent to step down from Congress at the end of this term. Her congressional campaign reported Monday afternoon that it had raised $812,000 in the three month period ending June 30. That campaign committee has $1.8 million cash which can be used to fund future federal campaigns, given to other candidates or donated to charity.