Clinton to forfeit $13 mil loan, unless… - Kenneth P. Vogel - Politico.com

Clinton to forfeit $13 mil loan, unless… - Kenneth P. Vogel - Politico.com: "Hillary Clinton may have to forfeit the $13 million she lent to her campaign, at least for now.
Photo: AP

Bill and Hillary Rodham Clinton, who once deducted $6 on their taxes for donating three pairs of his underwear, plan to take a $13-million hit to their personal bank account by forfeiting loans she made to her failed presidential campaign.

The campaign will allow to expire a mid-September deadline for paying them back, sources close to the campaign told Politico, at which point they will automatically be recategorized as contributions, confirming a decision by Clinton to forego repayment that many had expected her to make.

However, Clinton could get some post-deadline wiggle room to repay herself — and possibly with less of a public backlash — if Sen. Frank Lautenberg (D-N.J.) prevails in a little-noticed challenge to a rule requiring candidates to pay back loans of more than $250,000 within 20 days of the election.

For the Clinton campaign, the 20-day loan-repayment clock will start ticking when her vanquisher Barack Obama officially ends the Democratic primary by accepting the party’s presidential nomination Aug. 28 at Invesco Field in Denver.

Clinton’s campaign declined to comment for this story."

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