http://blogs.wsj.com/washwire/2016/02/2 ... -pac-cash/What Happens Now to Jeb Bush’s Leftover Super PAC Cash?
The super PAC backing Jeb Bush set fundraising records, but Right to Rise USA has little to show for the $118.6 million it collected from donors.
Now that the former Florida governor is out of the Republican nomination race, what happens to all that money?
The PAC had more than $24 million on hand at the beginning of February, and it needn’t reveal how much remained after Mr. Bush dropped out on Saturday until March 20, the next filing deadline. In the meantime its officers are keeping mum about their plans.
Federal Election Commission rules require that super PACs, committees that may raise and spend unlimited sums but cannot coordinate with campaigns, continue to report their fundraising and spending until they fold. Beyond that, the rules governing what they do with their cash are relatively lax, campaign finance analysts say.
The group, led by political strategist Mike Murphy, could get really crazy — its officers could write themselves big bonus checks.[that would be my choice...]That outcome, while legal, would probably prompt an investigation by the IRS, said Paul Ryan, deputy executive director of the Campaign Legal Center.
Right to Rise could run ads backing or attacking other candidates, although Mr. Bush has yet to throw his support behind one of his erstwhile rivals. The committee could also put the money toward another federal or state election, say the current Florida senate race or the 2018 Florida governor’s race. Or it could donate the money to a national committee, like the Republican National Committee or the National Republican Congressional Committee.
But in all likelihood, Right to Rise will return much of the cash to donors, Mr. Ryan said. Major super PACs are typically run by political professionals who don’t want to burn bridges with deep-pocketed donors, so returning money helps maintain strong relationships, he said.
¿JEB? is ¡OUT!
Re: ¿JEB? is ¡OUT!
The rules are a lot looser for the Super Pacs than for the campaigns themselves:
