Posted on 07/05/2024 2:28:42 AM PDT by Libloather
President Biden would have total control over the millions of dollars raised by his presidential campaign if he chooses to drop out of the race against former President Trump, campaign finance experts told The Hill.
**SNIP**
The Biden campaign said there was $240 million in the Team Biden-Harris war chest — which include the campaign, Democratic National Committee (DNC) and joint fundraising committees — at the end of June.
But neither the campaign nor the DNC responded to questions from The Hill about how much of that total was parked in the president’s campaign versus the national party committee. While the DNC would still control the party committee funds, Biden would have control over his campaign committee’s slice of that overall total, although the exact breakdown won’t be reported to the Federal Election Commission (FEC) until later this month.
The Biden campaign said it had nearly $91.6 million in cash on hand as of May 31 in its most recent report to the FEC, while the DNC said it had almost $65.2 million.
Campaign finance lawyers said the Biden campaign, and the president himself, would have a number of available avenues for the campaign committee cash if he does drop out or is otherwise unable to run — but all would run through Biden.
“Even if Biden is not the nominee, he would have the authority to direct his campaign treasurer on what to do with the remnant funds — whether that is a transfer in full to the DNC, to a super PAC supporting the new nominee or parsed out up to contribution limits to various other campaigns with the balance to the DNC or a super PAC,” Steve Roberts, a partner at Holtzman Vogel and former general counsel on Vivek Ramaswamy’s 2024 presidential campaign, told The Hill.
Tom Moore, former counsel and chief of staff to Democratic FEC Commissioner Ellen Weintraub, told The Hill that “the money can go several places.”
“It could all go to [Vice President] Harris, it could all go to the [DNC]. Or anything in between,” said Moore, who is now a senior fellow at the left-leaning think tank Center for American Progress.
Maybe like in THE PRODUCERS(1967). A failed campaign would mean they KEEP the money for their own use.
So they try for a failure.
What does a pardon cost these days?
Another twenty house refi’s to launder the money.
kamala is a walking gas can in a forest fire.
It goes to Hunter.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.