NJ GOP reports $530,000 in debt

The New Jersey Republican Party owes nearly $530,000 in debt, even as Gov. Christie travels the country on its tab and the GOP readies for state Assembly elections in November.

The state GOP has about $550,000 in cash, according to disclosure records filed with the Election Law Enforcement Commission made public Tuesday.

Despite the debt, the party "remains in a strong financial position to support Republicans across the state and continues to do so," spokeswoman Nicole Sizemore said in an e-mail.

The disclosure report highlights the party's investments in the midterm cycle, she said.

The GOP has paid for Christie, a Republican considering running for president in 2016, to travel to various inaugurations for governors he helped elect as chairman of the Republican Governors Association.

Christie's backers say the governor has been instrumental in raising money for the party, so he ought to be able to use it for his travels.

The state Democratic Party has less cash -- about $175,000 -- but also significantly less debt ($75,000) than the GOP, according to records.

A separate GOP fund, Assembly Republican Victory, has $220,000 in cash, while its Democratic counterpart, Democratic Assembly Campaign Committee, has $317,000.

Elections for the state Assembly will be held in November. There are no elections scheduled for statewide office such as governor or U.S. senator. Total fund-raising in 2014 by the state Democratic and Republican parties and other affiliated fund-raising groups dropped to its lowest level in at least eight years, according to the election commission.

At least some of the state GOP's debt stems from the federal investigation into the George Washington Bridge lane closure scandal.

The U.S. Attorney's Office in Newark issued the party a subpoena last year seeking records with regard to the lane closures. The investigation is ongoing.

The party still owes $55,000 to the law firm Patton Boggs, which has represented the GOP in the investigation.

It also owes $220,000 to Stroz Friedberg LLC, a data recovery firm in New York.