The Phaserl


New spending bill allows wealthy donors to give 10 times to political parties

from Investment Watch:

Under current campaign finance law, individuals cannot give more than $32,400 a year to the Democratic National Committee or the Republican National Committee. But a section on “other matters” on page 1,599 of the spending bill sets separate limits for donations earmarked for the national parties’ political conventions, buildings and potential recount efforts.

Individuals would be allowed to donate three times the annual party contribution limit to each of the earmarked efforts in addition to the party itself, effectively allowing one person to funnel $324,000 a year to party efforts.

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