What happens to the money President Joe Biden has already raised for reelection? It's complicated.

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What happens to the money President Joe Biden has already raised for reelection?

https://www.wisn.com/article/reallocating-biden-campaign-money/61656325
Updated: 11:37 AM CDT Jul 22, 2024


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Many campaign finance experts say that, should Harris become the nominee, any money remaining in the campaign’s bank accounts would transfer to her political operation because she already is part of the ticket.

But some Republican lawyers disagree, arguing that under some interpretations, Biden and Harris must be formally nominated by their party before any money could be shifted.

"If President Biden is committed to passing the torch to his vice president, and wants to be able to seed her campaign with the current Biden for President campaign war chest, he’ll first have to become his party’s legal nominee," veteran Republican election lawyer Charlie Spies wrote in an op-ed in The Wall Street Journal earlier this month.



If the Democrats go with another candidate, transferring that money would be tricky. .............

He could also shift that money into a Political Action Committee (PAC), which would be capped at $5,000 donations to the campaign committees, but would have unlimited spending power on running its own advertisements. However, PACs are not allowed to collude with campaigns in any way, so the PAC’s spending could be heavily scrutinized.

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