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Divided We Stand

Divided We Stand
New book about the 2020 election.

Tuesday, July 5, 2022

DeSantis to Exploit Super PAC Loophole

FEC: "A federal candidate’s authorized committee may not accept funds or assets transferred from a committee established by the same candidate for a nonfederal campaign. Instead, the candidate’s nonfederal committee may refund its leftover funds to its contributors and arrange for the federal campaign to solicit those same donors, within the limits and prohibitions of the Federal Election Campaign Act (the Act). The full cost of this solicitation must be paid by the federal committee. 11 CFR 110.3(d)"

Apparently, a candidate CAN transfer nonfederal funds to a Super PAC.

 Steve Contorno, CNN:
Few people noticed when the Federal Election Commission deadlocked last month over whether US Rep. Byron Donalds of Florida in 2020 had broken a law intended to keep money raised for a state campaign out of federal elections.

But election lawyer Brett Kappel closely followed the case, and he immediately thought of one person who could benefit greatly from the outcome: Ron DeSantis.

The Florida governor is shattering national fundraising records as he seeks a second term, attracting gobs of money from Republican donors eyeing DeSantis as a potential presidential candidate in 2024. At the end of May, DeSantis was sitting on $111 million – more money than any candidate has ever needed to win an election in the Sunshine State. More donations come in almost every day.
An individual involved in Republican fundraising in Florida said the expectation is DeSantis will raise about $200 million this cycle, and he will need less than half of it for his reelection campaign. That will leave DeSantis with at least $100 million in seed money for a super PAC to support a White House bid, giving him a financial head start that at the moment is only rivaled by Trump’s own fundraising machine. Trump’s Save America PAC had $106 million in its coffers as of May.