Ted Cruz PAC Receives $156K Despite Ongoing Federal Investigation

A super PAC supporting Ted Cruz’s reelection to the Senate has received another payment of more than $150,000 in digital revenue from iHearMedia, despite a federal complaint about the payments.

Truth and Courage PAC, focused on “supporting Ted Cruz’s reelection to the U.S. Senate” reported Thursday receiving $156,185.72 from iHeartMedia Management Services on May 15, 2024.

The Truth and Courage PAC had previously received more than $630,000 from iHeartMedia, but as an independent super PAC, it cannot coordinate directly with Cruz.

iHeartMedia is the company that distributes the senator’s podcast “Verdict With Ted Cruz”. Cruz has said that he receives no revenue from the podcast, but the payments have sparked concern among advocacy groups.

In April, two advocacy groups filed a complaint with the Federal Election Commission (FEC) suggesting that directing podcast ad revenue to the super PAC supporting Cruz could violate campaign finance laws.

“By soliciting or directing $630,850.08 of iHeartMedia’s corporate funds to or on behalf of TCP in connection with his 2024 election, Cruz appears to have brazenly violated these federal campaign finance laws,” the complaint reads.

According to Forbes, the advocacy groups have not heard back on the complaint and said it often takes a year for the agency to proceed.

Rachel Nelson, a spokesperson for iHeart subsidiary Premier Networks, confirmed that payments to the political committee are linked to Verdict ad revenue. Truth and Courage spokesman Jarrod Griffin stated that the PAC owns the podcast and pays taxes on all revenue from iHeartMedia.

Details of the financial arrangement remain unclear. Campaign finance watchdogs have suggested that the payments might breach laws prohibiting candidates from soliciting “soft money” donations from corporations.

Reports also revealed that the Truth and Courage PAC received $1 million from Miriam Adelson, who recently became the majority owner of the Dallas Mavericks. Forbes estimates that Adelson and her family have a net worth of approximately $29.7 billion.

Adelson is the widow of the former CEO of casino and resort giant Las Vegas Sands. She has called for support for Israel, a cause that Cruz has spoken publicly about.

Cruz likes to stay close to the people who donate to his causes. According to a Business Insider report, Cruz recently had dinner with people who donated between $1,000 and $2,500 to his campaign.