Former Massachusetts Governor Mitt Romney won't try to acquire donations to repay the $45 million in loans he made to his unsuccessful presidential campaign, The Boston Globe reports. Romney intends to send a letter to the Federal Election Committee that explains he will "forgive the outstanding loans."
"Mitt Romney's priority right now is raising money for other Republicans and not trying to recoup the money he put into his own race," Romney spokesman Eric Fehrnstrom told CBSNews.com.
While not unexpected, the move could help heal any remaining wounds from the bruising primary battle Romney had with presumptive GOP nominee John McCain by demonstrating that Romney has no intention of asking McCain to help him recover some of his debt.
Romney has become a highly active surrogate for his former rival, leading to speculation that he is on the short list of potential McCain running mates. He currently sits atop the CBSNews.com VP Hot Sheet.
Romney is in Washington, D.C., today, raising money for his Free And Strong America PAC, which supports Republican candidates, including McCain. The Michigan native plans to spend some rare downtime with his family next week at his vacation home on Lake Huron.