Sarah Palin, Josh Revak, Adam Wool, and Andrew Halcro are among the many candidates for Congress who have neglected to file a required financial disclosure with the Clerk of the House of Representatives.
The Ethics in Government Act requires members of Congress, officers, employees of Congress, and candidates for Congress who intend to raise more than $5,000 to file a financial disclosure. They must file within 30 days of becoming a candidate, or May 15 of the year they become a candidate.
Several candidates for Congress did file their disclosures on time: Nick Begich, Jeff Lowenfels, Tara Sweeney, and Chris Constant are among them.
Santa Claus of North Pole has filed a statement saying he will not be raising more than $5,000, so he is not required to file with the Clerk.
The late filing fee is not excessive — the lagging candidates will be charged just $200 for filing 30 days or more after the deadline.
The financial report details all the investments that each of the candidates have, income they’ve earned, and businesses they own. The statements show details such as how much their spouses make. Because the special election to fill Alaska’s one seat in Congress is coming at such a rapid pace, this particular filing with the Clerk of Congress is the only real sense that the public has about whether a candidate has the wherewithal to continue a campaign, if they are not raising funds from supporters.
In the filings, it’s clear that Chris Constant does not have enough personal wealth to sustain his campaign for Congress without financial help, while Jeff Lowenfels can pay for much of his own campaign, as can Nick Begich.
For the ones who are no-shows on the filings, it’s not clear if they are trying to keep their finances quiet or if they simply haven’t raised over $5,000. In the case of Palin, it’s unlikely she has not raised more than $5,000. Her upcoming fundraiser in the swanky Ponte Vedra, Florida is an indication that she has raised a significant amount of money already and will be the fundraising powerhouse for this special election.
The filing deadline for the Federal Elections Commission report is a separate schedule. The deadline for the pre-primary FEC report is May 30, and the July quarterly report is due July 15.