Money is becoming an issue in Wisconsin’s race for the U.S. Senate.
Republican Eric Hovde is launching a new ad today where he promises not to accept money from political action committees and promises to not take a Senate salary if elected.
“Washington has become corrupt career politicians sell themselves to special interest and end up working for them and not you I’ve worked hard been fortunate I don’t need their special interest money and I won’t take it if you decide to like me is your next senator I’ll donate my entire salary to Wisconsin charity every year,” Hovde said in the new 30 second ad.
Hovde’s campaign is making it clear that Hovde’s own charity, The Hovde Foundation, will not get any of those salary donations.
Hovde’s new ad comes as Democrats in Wisconsin are blasting him as a millionaire and continue to hammer that he owns a home in California.
“Senate candidate Eric Hovde *said* he supported Dem proposals to put a minimum global tax on corporations, [but] *did* invest tens of millions of $$ in insurance companies HQ’d in Bermuda to avoid US taxes,” Wisconsin Democratic chair Ben Wikler said on social media Thursday.
A report in Politico noted Hovde’s asset management firm, Hovde Capital, reported non-controlling investments in up to $74 million in Bermuda-based insurance companies between 2003 and 2013.
Non-controlling investments mean essentially a minority ownership stake and mean Hovde would not have had a vote or any say on corporate decisions in those companies.
Hovde has promised he will self-fund most of his campaign but has been clear he will accept donations from Wisconsin voters.
Democrats in Wisconsin have also tried to make that an issue, saying Hovde will likely have to spend $20 million of his own money in the contest.
Hovde’s campaign is not saying how much money they are putting behind the new ad or where in Wisconsin it will run.
