More than two years after then-Senate president pro tem Peter Shumlin loaned his gubernatorial campaign $275,000, the now-governor finally got his money back.

According to disclosure forms filed Monday with the secretary of state’s office, Shumlin dipped into his sizable campaign war chest on January 3 to fully repay himself for three loans he made to get his campaign off the ground during the summer and fall of 2010.

“It’s always been the plan to pay the loan back,” explains Shumlin’s campaign treasurer, Kate O’Connor. “Luckily, we found ourselves in the position to do so at the beginning of this year. The campaign doesn’t want to carry a debt.”

Indeed, after decisively defeating former state senator Randy Brock in November to win a second two-year term, Shumlin closed out the campaign season with more than $915,000 in the bank. After raising nearly $88,000 during the past six months and repaying the 2010 loans, the governor now finds himself with nearly $707,000 cash-on-hand. 

While it’s not uncommon in Vermont for wealthy candidates to loan their own campaigns generous sums of money, it’s rare to see a six-figure loan fully repaid. Typically, candidates who make such loans eventually forgive them — in essence, converting the loans into direct contributions — or they carry them forward indefinitely.

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Paul Heintz was part of the Seven Days news team from 2012 to 2020. He served as political editor and wrote the "Fair Game" political column before becoming a staff writer.

7 replies on “Shumlin Campaign Cuts $275,000 Check to Gov, Forgiving 2010 Debt”

  1. “While it’s not uncommon in Vermont for wealthy candidates to loan their own campaigns generous sums of money, it’s rare to see a six-figure loan fully repaid. Typically, candidates who make such loans eventually forgive them — in essence, converting the loans into direct contributions — or they carry them forward indefinitely.
    Fast Petey wanted to be Governor soooooooooooooo badly. But he wasn’t willing to pay for it.

  2. “I think the governor appreciates everybody who makes a contribution to his campaign.”
    The rest of us, not so much.

  4. Perhaps he should have spent that $275,000 on an ethics consultant? An honesty trainer? A brain-to-mouth filter?

  7. Campaign funding in “this day and age” requires creativity. Being independently financed on the risks is a good business decision in my opinion..

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