Renzi pays $323,830 in taxes, avoids stiffer FEC fine

Though Rep. Rick Renzi’s (R-Ariz.) congressional committee was fined $25,000 for reporting violations, Renzi escaped a more serious fine by paying $323,830 in additional federal and state taxes, according to newly released Federal Election Commission (FEC) documents.

{mosads}The FEC is planning to make public this week a release on the agreement it has reached with Renzi.

The audit of the lawmaker’s 2002 congressional campaign unveiled reporting violations, for which the Renzi for Congress Committee will pay a $25,000 fine.

The lawmaker avoided a penalty for receiving a prohibited corporate contribution only after amending his tax return and paying an additional $285,421 in federal taxes and $38,409 in state taxes, according to FEC documents.

As a result, Renzi was able to show that the $369,090 in loans to the campaign, which the FEC had looked at as possible prohibited contributions, were his own money.