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A political question from an outsider who knows nothing.

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Turkeytop
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Joined: Mon Aug 16, 2010 9:27 pm

A political question from an outsider who knows nothing.

Post by Turkeytop » Mon Mar 02, 2020 9:41 pm

When a candidate for the Presidential nomination ends their candidacy early, what happens to the left over campaign funds they have collected?

Do they have to refund it to the donors?



Rate This
Posts: 2356
Joined: Wed Jan 08, 2020 12:17 am

Re: A political question from an outsider who knows nothing.

Post by Rate This » Tue Mar 03, 2020 12:14 am

Turkeytop wrote:
Mon Mar 02, 2020 9:41 pm
When a candidate for the Presidential nomination ends their candidacy early, what happens to the left over campaign funds they have collected?

Do they have to refund it to the donors?
I thought there was some way to roll it over to others but you may have the right of it.



Radio Sucks
Posts: 410
Joined: Wed May 14, 2014 4:48 pm

Re: A political question from an outsider who knows nothing.

Post by Radio Sucks » Tue Mar 03, 2020 4:32 am

Good question....
Here's what a campaign committee is allowed to do with any lingering cash: it can donate the funds to charities or political parties; it can contribute $2000 per election to other candidates; and it can save the money in case the candidate chooses to run again
https://www.mentalfloss.com/article/296 ... -drops-out

I've ofter wondered why campaigns don't just end, but are "suspended".
Pete Buttigieg receives an outpouring of support after suspending his 2020 campaign
Sen. Amy Klobuchar suspends her presidential bid
Of course, it has to do with money.
The Federal Election Commission, in fact, doesn't consider a campaign completely over until its debts are paid off, loans are settled and its cash has been transferred into other accounts. Saying a campaign is "suspended" rather than ended can be a signal to donors to keep their contributions coming while the campaign digs itself out of the red and winds down.
https://www.nbcnews.com/politics/first- ... ut-n569496



zzand
Posts: 504
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Location: right here

Re: A political question from an outsider who knows nothing.

Post by zzand » Tue Mar 03, 2020 5:35 am

From our friends at google....

Here's what a campaign committee is allowed to do with any lingering cash: it can donate the funds to charities or political parties; it can contribute $2000 per election to other candidates; and it can save the money in case the candidate chooses to run again. However, those regulations don't apply to the relatively new super PACs (Political Action Committees); this is only the third election where they have played a role, and there are currently no rules to stipulate what happens to that money beyond that it cannot go to fund another federal candidate. Much of that money tends to be returned to its original donors, used to wrap up the failed campaign, or donated to back a state-level candidate. The goal, however, is always to spend all of that money.



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