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How much of ones own money can a candidate spend during a campaign?

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NNN0LHI Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-04-03 04:54 PM
Original message
How much of ones own money can a candidate spend during a campaign?
Is there any limit to what someone can spend using their own money during a campaign? I am ignorant on this subject. Does anyone know the answer? Thanks in advance for any informed answers.

Don

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Beaker Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-04-03 04:55 PM
Response to Original message
1. no limit.
you can spend every dime of your own money if you want.
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Beaker Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-04-03 04:56 PM
Response to Reply #1
2. unfortunately for Kerry-
but lucky for his wife-
I think that there are limits on "spousal support".
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NNN0LHI Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-04-03 04:57 PM
Response to Reply #2
3. Even from a joint account? n/t
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Beaker Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-04-03 05:06 PM
Response to Reply #3
4. I'm not sure about the how or why-
I just remember reading that Kerry probably wouldn't legally be able to tap her fortune if he ran.
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NNN0LHI Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-04-03 05:08 PM
Response to Reply #4
5. Thanks n/t
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eyesroll Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-04-03 11:43 PM
Response to Original message
6. A candidate can spend unlimited amounts of his/her own money
They do have to notify their opponents if they intend to go over a certain threshold (for Congress it's $350,000); at that point, their opponents can collect more money than the standard $2,000 from individuals and $5,000 from PACs. (This is called the "Millionaire's Amendment," to allow less wealthy challengers to play catch-up.)

Spouses, no matter how wealthy, only can give $2,000 per election cycle. Thus, a candidate can only contribute their half of assets jointly owned with a spouse (or anyone else). That means that John Kerry can't tap Theresa Heinz Kerry's money; he only can spend (or borrow against) half of their joint bank accounts, real estate, etc. (This does keep people from bankrupting their spouses during an election.) Theresa Heinz Kerry can only spend $2,000, unless she makes independent expenditures (these aren't campaign contributions -- these have to be done without the input of the candidate committee).

(I have a big, orange book of FEC rules on my desk right now.)
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