Gingrich Forms Committee to Retire Campaign Debt, Help Candidates
Posted at 9:08 a.m. on March 26, 2013
Gingrich's 2012 campaign owes about $5 million. (Douglas Graham/CQ Roll Call File Photo)
Former House Speaker Newt Gingrich has formed a new fundraising venture, Committee for America, to support conservatives and retire his 2012 campaign debt.
The new group combines American Legacy PAC and Gingrich’s former presidential campaign to ”train” future conservative candidates and “chart a course for a better America,” according to a news release.
Gingrich’s campaign owes nearly $5 million, according to online fundraising records.
Here’s how the new committee describes the financial arrangement:
“Money raised by the Committee for America will be allocated between The American Legacy PAC and Newt 2012. The American Legacy PAC will use proceeds to fund federal candidates and provide online training material for conservative candidates. Newt 2012 will use proceeds to retire debt obligations incurred during the 2012 Republican presidential primary campaign.”
American Legacy PAC’s website has a vague description of its mission, but the Sunlight Foundation notes that images of Gingrich and his wife, Callista, are featured prominently on the website.