Republican Phil Krinkie, who is running for the Minnesota U.S. House seat Michele Bachmann will leave, said that he lent his campaign $300,000.
"I've never run a campaign in the red yet," said Krinkie, a former state representative who ran for Congress in 2006. "I don't intend to start doing deficit spending now."
He said he was committed to making sure that his campaign had the resources to compete and was prepared to make good on that pledge. Krinkie said he did not know how much of his own cash he would end up putting into his campaign.
According to a financial disclosure filed with the U.S. House, last year Krinkie made $100,000 as president of the Snelling Companies, a family-owned heating and cooling company of which he is president, $80,000 as president of the Taxpayers League of Minnesota and his wife made $152,000 as lobbyist for Minnesota Hospital Association lobbyist. He also reported assets in several rental properties and other concerns.
Krinkie announced his campaign in July. By that point, fellow Republican candidates Tom Emmer reported having $200,000 cash on hand; John Pederson reported $32,000 and Rhonda Sivarajah reported $16,000.