Ted Cruz calls failure to report Goldman Sachs loan a 'paperwork error'

(Image credit: Scott Olson/Getty Images)

When asked about a New York Times investigation published Thursday that says he did not disclose a $1 million loan from Goldman Sachs in campaign finance reports, Ted Cruz called it a "paperwork error."

Cruz, whose wife Heidi works at Goldman Sachs, received the loan during his U.S. Senate bid four years ago. During the Fox Business Network Republican debate, Cruz said that since he doesn't have "hundreds of millions in the bank," (his total net worth is estimated to be about $3.2 million) he ended up "investing everything we own" in that campaign "to defend ourselves against attacks." Cruz said that while he did disclose the loan on a filing with the U.S. Senate, it was not on a filing with the Federal Election Commission. "I made a paperwork error, disclosing it on one and not another," he said. "If that's the best hit The New York Times has, it better go back to the well."

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Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.