McCain Exploits Loopholes in His Own Campaign Finance Law to Raise Lump Sums

[bigtree]

from Minnesota Independent: http://www.minnesotaindependent.com/8505/change-the-gop-can-believe-in-mccain-skirts-mccain-feingold


Change the GOP can believe in: McCain skirts McCain-Feingold

Sen. John McCain is exploiting a loophole in the campaign finance law that bears his name, allowing the “maverick reformer” to accept lump sums of up to $68,000.

The co-author of the 2002 McCain-Feingold campaign finance reform act accepted public financing in June, while his opponent, Sen. Barack Obama, opted for private financing. A campaign that accepts public funds is limited on the total amount of money it can solicit “directly” from contributors.

By distributing contributions to a network of Republican state and national committees, McCain is able to claim the money is being contributed “indirectly” by funneling the contributions through a network. McCain is able to collect as much as $68,000 from an donor and distribute the money among the various committees, compared to the $2,300 limit that would apply if the contributions were accepted “directly.”

The twists and turns required to stay within the law are evident in the disclaimer prominently displayed on the McCain-Palin online donation page: https://secure.donationreport.com/donation.html?key=I9LBRJ70SNSH

McCain-Palin Victory 2008 is a joint fundraising committee by the McCain-Palin Compliance Fund, Republican National Committee, and Michigan, Missouri, Ohio, and Pennsylvania Republican Parties. Because the McCain-Palin Campaign is participating in the presidential public funding system, it may not receive contributions for the any candidate’s election. However, federal law allows the McCain-Palin Campaign’s Compliance Fund to defray legal and accounting compliance costs and preserve the Campaign’s public grant for media, mail, phones, and get-out-the-vote programs. Contributions to McCain-Palin Victory 2008 will go to the Compliance Fund, and to participating party committees for Victory 2008 programs.

Jan Baran, a GOP ethics lawyer, was quoted by USA Today conceding that “there’s an irony there that Sen. McCain is swearing off private money for his own campaign … but actively raising money for party organizations.”



USAToday article: http://www.usatoday.com/news/politics/election2008/2008-09-09-prezmoney_N.htm

[liberal N proud]

1. And this guy claims to stand for CHANGE!

[xyouth]

2. So in other words, McCain uses Loopholes to Take taxpayer's hard earned money

while also taking contributions. No wonder Obama said that he would not use taxpayer's money, and that the system was broken. Obama should call him on this. This clearly goes against the implied intention of McCain /Feingold.:grr: :grr: :grr: :grr: :grr: :grr: