Investing in Victory? I wonder if you’ll get a bailout on your donation if they lose.
The interesting thing is that the banner is requesting a donation for the McCain/Palin Compliance Fund. I had never heard of a “Compliance Fund” so I decided to find out what it is.
From JohnMcCain.com
Contributions to the Compliance Fund will be used solely for legal and accounting services to ensure compliance with federal law, including a portion of the cost of broadcast advertising, campaign offices, and computer/website expenses. Federal law prohibits the Compliance Fund contributions from being used for a candidate’s election. Contributions from corporations, unions, government contractors, national banks, and foreign nationals without permanent residency status are prohibited.
…
Because the McCain-Palin Campaign is participating in the presidential public funding system, it will not raise private campaign contributions after August 31, 2008. However, federal law allows the Campaign to establish the Compliance Fund to defray legal and accounting compliance costs and preserve the Campaign’s public grant for media, mail, phones, and get-out-the-vote programs.
The “Compliance Fund” is for “legal and accounting costs for complying with campaign finance laws.” But how much money do you need to pay for costs to comply with finance laws? And why would you need to fund-raise for it?
It seems like a banner ad would be a violation of the use of the Compliance Fund. I think they may be getting around it by saying that the ad is not for McCain/Palin for President but a McCain/Palin Compliance Fund ad. It accomplishes both, but allows them to use money that was not supposed to be used for the campaign to be used.
Ironically John McCain is using this as a loophole in his own McCain/Feingold Campaign Finance reform bill.
From NYTimes.com: McCain’s Camp Tests Fund-Raising Limits
Senator John McCain toiled for years to push a campaign finance overhaul through Congress. After the measure finally passed, Trevor Potter, a lawyer and vigorous advocate for reforming the system, was instrumental in defending the law from challenges and pressing for strict enforcement.
Now, as Mr. McCain makes his final sprint for the White House, Mr. Potter is again helping Mr. McCain, but this time by maneuvering to wring the maximum out of campaign finance laws in ways that some contend are at odds with the spirit of the reforms they championed.
From Slate.com: What’s a “Compliance Fund”?
A LOOPHOLE IN THE PUBLIC FINANCING RULES FOR PRESIDENTIAL ELECTIONS.