What happens to dropout candidates' campaign money?
Do Rick Perry and Michele Bachmann get to keep the campaign money they don't spend? Do they get to use it to run for re-election as governor/congressman?
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Answer by Ottoman Umpire
From a WSJ article aptly titled, "What Happens to Leftover Campaign Money?" [1]:
According to the FEC, if a candidate for federal office (a presidential hopeful, say) loses and is a congressperson, he or she can roll over unused money into a re-election kitty. They can also repay themselves for personal funds used during the campaign up to a certain amount, depending on the race and when those funds were used. They can contribute the dollars to a charity. Candidates may also return money to contributors, but determining who gets how much is a delicate operation avoided by most, if not all, candidates. For local elections, state rules vary.
The rule is that [campaign donations] can’t be used for personal use,” says FEC spokesperson Bob Biersack.
Source:
[1] http://blogs.wsj.com/wallet/2008/11/04/what-happens-to-leftover-campaign-money/
Answer by Andrea Ryan
Thank you for asking this question, Garrett!! I was just asking a group of people about this the other day and no one knew the answer. And thank you for posting the answer, Ottoman.
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