Michael Baumgartner makes $150,000 loan to own campaign in days leading up to election

Just because a campaign has a sizable war chest, doesn’t mean all of that money is available when it’s needed.

In at least one candidate’s case, the answer to that particular problem is a six -figure loan of their own money.

Spokane County Treasurer Michael Baumgartner, who is running to represent Eastern Washington in Congress, has raised significantly more money than the competition but is unable to use all of those funds due to a quirk of campaign fundraising law. People can donate up to $3,300 to a candidate to aid them during the primary election and another $3,300 to help them in the general election, but general election funds cannot be used before a candidate wins in the August primary.

It’s in many ways a good problem to have, and only Baumgartner can really claim to have it. Among the 10 candidates running for the seat in one of the state’s most crowded races this year, only Baumgartner has raised a significant amount earmarked for the general election, possible signs of the confidence those donors have in his campaign and the deep pockets of many of those donors.

Though Baumgartner’s campaign has raised around $790,000, he has also spent heavily in the last few months ahead of the crowded primary, leaving his campaign roughly $270,000 on hand, of which more than half can’t be used until the general election.

With so much money locked up until after the Aug. 6 primary, Baumgartner has loaned his campaign $150,000 of his own money, allowing him to spend now and pay himself back later with those locked -up funds. That’s more than his entire yearly salary as county treasurer, which pays around $125,000 per year, according to county data.

The move is a gamble and another sign of confidence in the waning days of the election, as he would have to refund money slated for the general election if he doesn’t win a top two spot this Tuesday, leaving himself unable to recoup his loan.