WASHINGTON — Incoming Indiana congressman and multimillionaire Trey Hollingsworth is asking his new colleagues for donations to repay nearly a quarter-million dollars he owes to his pollster and other political consultants.
Hollingsworth, who moved from Tennessee shortly before launching his congressional bid in south central Indiana, spent more than $3 million of his own money on his race and his father spent another $1.5 million through a super PAC he created to help Hollingsworth win Indiana’s 9th congressional district.
But he still owes $246,246 to his pollster and other political consultants.
That’s despite the fact that Hollingsworth loaned his campaign another $60,000 last month on the same day his campaign gave $60,000 to the National Republican Congressional Committee. Individuals, unlike campaign committees, can’t give more than $33,400 to a national party committee.
The NRCC, the campaign arm of House Republicans, recently included Hollingsworth on a list of candidates with campaign debt that the NRCC is asking GOP lawmakers to help. That’s usually done by contributing leftover campaign funds or giving through a lawmaker’s PAC.
“I can’t imagine his Republican colleagues wanting to chip in a dime to help pay for this,” said Craig Holman, government affairs lobbyist for Public Citizen, a non-partisan government watchdog. “Trey has got more money than they have.”
Hollingsworth has assets worth at least $58.5 million, according to the financial disclosure report he filed during the campaign. He owns a company that renovates and markets old industrial buildings.
Hollingsworth has forgiven most of the $3 million he loaned his campaign against four other Republicans in the primary and Democrat Shelli Yoder in the general election.
His recently filed post-election report shows he had $579 in the bank Nov. 28 and $806,246 in outstanding debt. Most of the debt is what’s left of the personal loans he hasn’t already paid off or forgiven.
A Hollingsworth spokesman said he is not seeking help in retiring his loans, just the unpaid campaign bills.
“Representative-elect Hollingsworth is extremely appreciative of those willing to help retire campaign debt that is owed to vendors,” Rob Burgess, a senior campaign adviser said in a statement.
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While other members of Congress might balk at contributing to Hollingsworth’s debt reduction, outside political action committees will see it as a good opportunity, Holman said. PACs, which represent companies, trade associations and other interests, like to back incumbents and winners.
“This provides an opportunity for each of them to chip in $5,000 to help endear themselves to an incumbent,” Holman said.
He also said the $60,000 Hollingsworth transferred from his campaign to the NRCC on the same day he loaned his campaign $60,000 could have been a way to get around the $33,400 limits on how much an individual can give to a federal party committee.
“If the whole effort of loaning his campaign account $60,000 just so he could funnel that $60,000 directly to the NRCC, that would be an evasion of the campaign finance law,” Holman said.
Hollingsworth’s spokesman declined to comment.
His father, Joe Hollingsworth of Tennessee, terminated last month the super PAC he created to help his son.
Although a spokesman said in May the PAC — Indiana Jobs Now — would broaden its focus to help other Indiana Republicans, the PAC helped only one other candidate, records show. Indiana Jobs Now contributed $5,000 in May to Gov. Mike Pence’s re-election campaign.
