Ron Johnson Defers Himself Enough Compensation To Cover Costly Senate Campaign

June 24, 2011 5:35 a.m.
EDITORS' NOTE: TPM is making our COVID-19 coverage free to all readers during this national health crisis. If you’d like to support TPM's reporters, editors and staff, the best way to do so is to become a member.

Freshman Sen. Ron Johnson (R-WI) is facing new and uncomfortable questions about the deferred compensation package he received from the plastics company he ran before entering the Senate.

The Milwaukee Journal-Sentinel notes that Johnson received $10 million from the company, Pacur, weeks after his $9 million self-financed campaign came to an end.From the Journal-Sentinel:

The first-term Republican declined to say how his Oshkosh firm, Pacur, came up with a figure that so closely mirrored the amount he personally put into his campaign fund.

“You take a look in terms of what would be a reasonable compensation package, OK?” Johnson said this week. “It’s a private business. I’ve complied with all the disclosure laws, and I don’t have to explain it any further to someone like you.”

The similar figures raise a key question whether he and his company designed the packaged to elude laws limiting corporate donations to political candidates. Johnson says this is a coincidence. But while most deferred compensation are designed in advance, and vary in size based on the length of service, Johsnon says the $10 million figure was “an agreed-upon amount.”

“Agreed upon by whom?” the Journal-Sentinel asked.

“That would be me,” Johnson said.

Johnson made well over $1 million annually before running for Senate from a mix of capital gains, corporate earnings, and real estate.

Masthead Masthead
Founder & Editor-in-Chief:
Executive Editor:
Managing Editor:
Senior Editor:
Special Projects Editor:
Editor at Large:
General Counsel:
Head of Product:
Director of Technology:
Publishing Associate:
Front-End Developer:
Senior Designer: