Newt Gingrich - Tiffany's Line of Credit

Summary

During the 2012 Presidential campaign, it was discovered that Congressman Gingrich and his wife Calista had a line of credit at  Tiffany's and Co. Jewelry between $250,000 and $500,000. This line of credit existed in 2005 and 2006. Shortly after the revelation, the Gingrich campaign stated that at one point, the Gingrich's owed between $500,000 and $1,000,000 to the company, but that the debt was paid in full.

The debt was revealed in financial disclosure forms filed in 2006 and 2007 by Calista Gingrich as required for her employment with the House Agriculture Committee. During this same time, Tiffany's and Co was heavily lobbying that committee in relation to mining operations.

Lobbyist filings show that the Tiffany's lobbying fees for the K street firm Cassidy and Associates rose from about $100,000 to $360,000 between 2005 and 2009. This is the time that Calista Gingrich was the Chief Clerk at the House Agriculture Committee. Additionally, a former top staffer for Congressman Gingrich named Christy Evans is a lobbyist for Tiffany's.  

 

Disclosure Form

Although Congressman Gingrich left the House in 1999, Calista Gingrich remained at her job in the House Agriculture Committee. One of the requirements for this job was that she file disclosure forms denoting assets and liabilities. The requirements include that any revolving charge accounts with debts larger than $10,000 be disclosed. This is typically a credit card with a balance greater than $10,000 at the end of the reporting period.

The disclosure forms that Calista Gingrich filed in 2006 and 2007 for the years 2005 and 2006 indicate that the Gingrich's owed between $250,000 and $500,000 to Tiffany's and Co as a revolving line of credit. Although Politico broke the story, they were not able to resolve whether or not the debt was paid because Calista Gingrich left the House Agriculture Committee in 2007 and did not have to provide future disclosure forms.

 

Lobbyist Ties

Filings by Tiffany’s lobbyist, Cassidy & Co., and other government records show that the firm’s spending on “mining law and mine permitting-related issues” in Congress, as well as the Forest Service, the Interior Department, and Interior’s Bureau of Land Management shot up sharply between during the period when Callista Gingrich was chief clerk at the House Agriculture Committee.

Tiffany's annual lobbying expenditures rose from about $100,000 to $360,000 between 2005 and 2009, according to records assembled by the Center for Responsive Politics, a nonpartisan government watchdog organization.

It was also discovered by John and Tim Carney that a former Gingrich staffer named Chisty Evans had been a lobbyist for Tiffany's since 2000.

 

Credit Line Repaid

In June of 2011, Congressman Gingrich's campaign disclosed that the line of credit had extended to between $500,000 and $1,000,000 but was eventually repaid.

References

[1] Website: Washington Post Article: Newt Gingrich had second line of credit at Tiffany and Co. Author: Chris Cillizza Accessed on: 01/21/2012

[2] Website: CBS News Article: Newt Gingrich owed up to $500,000 to Tiffany Author: Brian Montopoli Accessed on: 01/21/2012

[3] Website: Politico Article: Newt Gingrich owed six figures to Tiffany's Author: Jake Sherman Accessed on: 01/21/2012

[4] Website: CNBC Article: Newt Gingrich's Tiffany Lobbyist Author: John Carney Accessed on: 01/21/2012

[5] Website: SpyTalk Article: Gingrich wife worked for committee heavily lobbied by Tiffany Author: NA Accessed on: 01/21/2012

[6] Website: Google Archives Article: Lobbyist Report - Cassidy and Associates Author: NA Accessed on: 01/21/2012

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