Ron Johnson Defers Himself Enough Compensation To Cover Costly Senate Campaign

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June 24, 2011 5:35 a.m.
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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.

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