Welch loaned his campaign half-a-million dollars
For those wondering whether Republican Steven Welch would shell out the dough for his own Congressional campaign, the answer has emerged.
Welch, a wealthy businessman running in the 6th District, made a loan of $500,000 to his campaign last quarter, according to new campaign finance data. Meanwhile, he raised just over $59,000. And while he has about $511,000 in cash on hand, the half-a-million-dollar loan remains debt on the books. Whether he actually expects repayment of that money remains an open question.
The numbers, which emerged in his October quarterly campaign finance report, shed new light on the campaign’s announcement last week that it has half-a-million on hand. It also makes clear that Welch is willing to spend the kind of money that Democrat Doug Pike is shelling out. Pike has already given his campaign a little more than half-a-million dollars.
Welch faces Chester County Recorder of Deeds Ryan Costello and state Representative Curt Schroder in next year’s GOP primary.
October 13, 2009 at 1:41 pm