/Tate Reeves loans his campaign $13 million days before Election Day faceoff against Jim Hood

Tate Reeves loans his campaign $13 million days before Election Day faceoff against Jim Hood

According to campaign finance records, Reeves lent his campaign $300,000. Five days before Election Day on Oct. 31, Reeves borrowed an additional $1,000,000 to his campaign. He signed campaign finance filings at his Flowood home address. Campaign loan to Tate Reeves 10/31/19 (Text). Candidates for state office often lend their campaigns money in close races. It is legal. If Reeves wins, he can repay the loans using future donations to the same campaign account. He could either pay the loans back with the remaining cash in the campaign account, or he could take the loan as a personal expense if he loses. Reeves campaign refused to respond to multiple requests for comment on the loans. A victory in a close race is dependent on having cash available in the final days of a campaign. According to prognosticators, Hood and Reeves are within five points of one another. Last-minute targeted ads on TV and social media can be costly. According to the Oct. 29 filings of the Secretary-of-State regarding campaign finance, Reeves has spent at most $10.8 million so far this year. Although Reeves’ $300,000.00 loan was included in the filing, the $1 million loan that Reeves received after October 29 was filed was not included in the $10.8 million spending figure. According to campaign finance reports, Hood spent $5.2million this year, which is less than half the amount of Reeves. Hood has not received a cash loan similar to this one. Reeves appears to be using an old campaign finance law, which would allow him to keep money in an account that was set up before new campaign funding regulations were passed. 2017 saw changes to the state’s election finance law that prohibited public officials from using campaign money for personal expenses. Although the law was implemented in 2018, several candidates, including Reeves kept their old accounts open with money donated prior to its implementation. Reeves had $1.9 million in his old campaign account as of Oct. 29. Reeves can keep the money he chooses, regardless of whether he wins this week or not. According to public polling, neither candidate has the majority of the vote. This makes it crucial for undecided voters in this most competitive state election since the early 2000s. Reeves has been receiving reinforcements from Republicans in Washington and Mississippi in recent days to ensure a win. Reeves was visited by President Donald Trump in Tupelo on Friday. Vice President Mike Pence visited Biloxi Monday and U.S. Secretary for Agriculture Sonny Perdue visited Jackson Thursday. Donald Trump Jr. visited Mississippi in October to attend a Reeves fundraiser. On Tuesday, two other less-known candidates will be running for governor: Independent David Singletary and Bob Hickingbottom, a Constitution Party candidate.