Former Utah governor Jon Huntsman Jr. forgave $5.1 million in personal loans that he gave to his failed presidential campaign, which he formally closed down Thursday.
Huntsman, a wealthy former ambassador to China under President Obama, provided more than half the money that his presidential campaign raised in the form of personal loans.
In disclosures filed Thursday with the Federal Election Commission, Huntsman reported that the loan money was converted into a personal contribution from himself, wiping the debt off the books.
Huntsman departed the Republican presidential race in January after finishing third in the New Hampshire primary. He endorsed the eventual GOP nominee, former Massachusetts governor Mitt Romney, but has done little politicking on Romney's behalf since then.
The termination of the Jon Huntsman for President political committee has no bearing on his future as a potential candidate, since he can easily launch a new one should he attempt to run for office again.