If a United States presidential candidate of a major political party drops out a few months before an election

7/1/2024

[jroehl]

Handling of Campaign Funds if a U.S. Presidential Candidate Drops Out

Transfer of Campaign Funds

Transferring to Another Candidate:

• Federal law prohibits the direct transfer of campaign funds from one candidate to another. This means that the dropped-out candidate cannot simply hand over their campaign funds to the new candidate selected by the party.

Legal Uses of Remaining Campaign Funds

Debt Repayment:

• The funds can be used to pay off any campaign debts incurred during the candidate’s campaign.

Contributions to Political Parties:

• The funds can be transferred to the party's national, state, or local committees, subject to contribution limits set by the Federal Election Commission (FEC).

Donations to Charitable Organizations:

• The remaining funds can be donated to recognized charitable organizations, provided that the charity is not related to the candidate or used in a way that would personally benefit them.

Refunding Contributors:

• The campaign can refund contributions to donors. This is often done on a pro-rata basis, depending on the amount of funds left.

Future Campaigns:

• The funds can be held in reserve for a future campaign by the same candidate. This allows the candidate to use the funds for another run for office at a later date.

Administrative Expenses:

• The funds can be used to cover administrative expenses related to winding down the campaign, such as office rent, staff salaries, and other logistical costs.

Legal Restrictions and Oversight

All these actions are subject to the regulations and oversight of the Federal Election Commission (FEC). Candidates must file regular reports detailing how the funds are being used even after dropping out of the race.

Summary

While direct transfer of funds to a new candidate is not allowed, there are several legal avenues for the use of remaining campaign funds, including debt repayment, contributions to political parties, donations to charities, refunds to contributors, holding funds for future campaigns, and covering administrative expenses.

[cgbg]

Footnote:

“These rules do not apply to Joe Biden since a special prosecutor has determined that he is too old and kindly to prosecute.”

[Beowulf9]

You don’t have to worry. He ain’t droppin’ out.

[dowcaet]

I think tonight confirmed that. Biden and his team will triple down on their lawfare against Trump.

[RushingWater]

The dems don’t care about the money. The fraud is being funded via another pipeline.

[for-q-clinton]

Doesn’t matter. The enforcement will come AFTER the election and it’s just a fine, unless you’re Donald Trump then NY State will prosecute you as a felony.

[Beowulf9]

I expected it totally.

[dowcaet]

If 2020 was the ugliest campaign in American history this one will surpass it by a mile!

[C210N]

It had to be this way.
This is not ANOTHER 4-year election.
GOD WINS.

[This I Wonder32460]

Wouldn’t the money belong to Joe as a retirement fund?