The Federal Election Commission has criticized a political action committee chaired by House Majority Leader Tom DeLay for misstating accounts and failing to report debts.

The commission issued its report after auditing the 2001 and 2002 financials for Americans for a Republican Majority Political Action Committee. The PAC provides financing and electoral assistance to other candidates for office.

No action has been taken against DeLay, a Texas Republican, or the PAC, although the report said that the commission might in the future penalize the fund, usually meaning a fine. Another fund created by DeLay and aides, Texans for a Republican Majority, is also under review in Texas. The PAC's accounting problems came during the 2002 election cycle, when it raised and spent more than $3.6 million. The audit said that committee made material misstatements about its donations, cash on hand and disbursements, discrepancies collectively amounting to about $100,000. Auditors said they had trouble examining the accounts because more than a quarter of contributor checks and a third of expense paperwork were missing and that the PAC also failed to properly disclose debts totaling $322,306 that it owed to vendors.

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