- The Wall Street Journal reported that the DNC will be part of a FEC complaint to be filed against John McCain.
- Howard Dean, the DNC Chairman, is quoted as saying “We are in this complaint to the FEC asserting that the senator and his campaign are still bound to the conditions by matching funds including the spending limits of approximately $56 million dollars,”
- The DNC's complaint is centered around John McCain's possible use of the public funds as security for a loan he obtained in November and his recent request to withdraw from the public financing system.
- One of the benefits of the public financing system is that it allows candidates to automatically be listed on ballots in states that may have more stringent requirements for candidates not using public financing, the major drawback is that it limits the amount of money a campaign can spend.
- To date, it is reported that John McCain has already spent $49 million and the cap imposted by the public financing system is reported to be between $54 and $56 million.
Related Posts:
Loan May Prohibit McCain from Exiting Public Campaign Financing System
John McCain Requests Withdrawal from Presidential Election Financing System
McCain Took Out $3 Million Loan to Finance Campaign
Sources:
http://www.cbsnews.com/stories/2008/02/24/politics/politico/thecrypt/main3869913.shtml
Why Does the DNC Want to File a FEC Complaint Against John McCain?
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