A couple of sites have picked this story up. It came out of Houston. I think the options they give would be fine. I am going to trust Dr. Paul to use it as he sees best.
DIGG IT.
http://digg.com/politics/4_Million_on_Hand_Ron_Paul_Looks_For_Ways_To_Spend_It
HOUSTON — U.S. Rep. Ron Paul is considering using $4 million left over from his failed presidential campaign to start a for-profit publishing company that would reflect his Libertarian-leaning views.
The move could test the limits of federal campaign finance rules.
“I’ve never heard of anyone taking their campaign money and putting it into a for-profit corporation,” campaign finance-reform advocate Fred Wertheimer told the Houston Chronicle.
Former candidates have leeway in how they use leftover campaign money.
“There’s a provision that says you can use the funds for any lawful purpose, so long as it’s not personal use for the candidate,” said Bob Biersack, a spokesman for the Federal Election Commission.
Federal guidelines say the money can’t be used for things such as vacations, mortgage, rent or household items or to seed a for-profit corporation that benefits an individual or shareholder.
Paul, a Republican from Lake Jackson, about 50 miles south of Houston, has about $4 million in leftover campaign cash, said campaign spokesman Jesse Benton.
Among options being considered for the money, Benton said, are supporting like-minded candidates through Paul’s Liberty PAC; donating it to Paul’s FREE Foundation, which publishes his newsletter; trying to influence public policy through a new nonprofit group; or creating “something inventive and entrepreneurial” like a for-profit corporation to produce publications.
It’s not clear whether Paul would be able to form a for-profit corporation specifically designed for educational purposes.
Paul also has a potential gold mine in his mailing list, if he rents those names to interest groups or other campaigns.
Benton said the campaign has the names of 160,000 donors who have given an average of about $100 each. With people who signed up to receive campaign information, but have not donated money, the e-mail list grows to 400,000.
Presidential list are attractive because they include donors from across the country. Paul’s list also includes new participants into the presidential process, offering candidates a chance to expand their network to nontraditional donors.
On the market, the list of 160,000 donors would probably fetch about $135 per 1,000 names for each use, or about $21,600 a pop, estimated Kevin Shuvalov, a partner in Olsen & Shuvalov, an Austin firm that does fundraising and voter-contact mailings.
The Paul presidential campaign already has rented its list twice — once to his Texas congressional re-election committee, which raised $1.4 million, according to CQ Moneyline, a site that tracks FEC records; and once to incumbent Rep. Walter B. Jones, R-N.C., who serves with Paul on the Republican Liberty Caucus, a group of Libertarian-minded lawmakers.
http://elections.foxnews.com/2008/0...ul-looks-for-ways-to-spend-it/#comment-321239
DIGG IT.
http://digg.com/politics/4_Million_on_Hand_Ron_Paul_Looks_For_Ways_To_Spend_It
HOUSTON — U.S. Rep. Ron Paul is considering using $4 million left over from his failed presidential campaign to start a for-profit publishing company that would reflect his Libertarian-leaning views.
The move could test the limits of federal campaign finance rules.
“I’ve never heard of anyone taking their campaign money and putting it into a for-profit corporation,” campaign finance-reform advocate Fred Wertheimer told the Houston Chronicle.
Former candidates have leeway in how they use leftover campaign money.
“There’s a provision that says you can use the funds for any lawful purpose, so long as it’s not personal use for the candidate,” said Bob Biersack, a spokesman for the Federal Election Commission.
Federal guidelines say the money can’t be used for things such as vacations, mortgage, rent or household items or to seed a for-profit corporation that benefits an individual or shareholder.
Paul, a Republican from Lake Jackson, about 50 miles south of Houston, has about $4 million in leftover campaign cash, said campaign spokesman Jesse Benton.
Among options being considered for the money, Benton said, are supporting like-minded candidates through Paul’s Liberty PAC; donating it to Paul’s FREE Foundation, which publishes his newsletter; trying to influence public policy through a new nonprofit group; or creating “something inventive and entrepreneurial” like a for-profit corporation to produce publications.
It’s not clear whether Paul would be able to form a for-profit corporation specifically designed for educational purposes.
Paul also has a potential gold mine in his mailing list, if he rents those names to interest groups or other campaigns.
Benton said the campaign has the names of 160,000 donors who have given an average of about $100 each. With people who signed up to receive campaign information, but have not donated money, the e-mail list grows to 400,000.
Presidential list are attractive because they include donors from across the country. Paul’s list also includes new participants into the presidential process, offering candidates a chance to expand their network to nontraditional donors.
On the market, the list of 160,000 donors would probably fetch about $135 per 1,000 names for each use, or about $21,600 a pop, estimated Kevin Shuvalov, a partner in Olsen & Shuvalov, an Austin firm that does fundraising and voter-contact mailings.
The Paul presidential campaign already has rented its list twice — once to his Texas congressional re-election committee, which raised $1.4 million, according to CQ Moneyline, a site that tracks FEC records; and once to incumbent Rep. Walter B. Jones, R-N.C., who serves with Paul on the Republican Liberty Caucus, a group of Libertarian-minded lawmakers.
http://elections.foxnews.com/2008/0...ul-looks-for-ways-to-spend-it/#comment-321239
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