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Paul considers alternative uses for leftover cash
by Midland Reporter-Telegram
Rep. Ron Paul, R.-Texas, was a fund-raising champion when it came to getting money for his unsuccessful run for the presidency, but in the end he got more money than votes and didn't even place a dent on the Republican voting map.
Now Paul is left with cash on hand, given by thousands of Americans in what is being called one of the most successful Internet money campaigns of all time.
According to one of Paul's campaign staffers, the Republican from Lake Jackson, about 50 miles south of Houston, has about $4 million in leftover campaign cash. Paul is now in the process of trying to decide what to do with all that leftover cash.
Candidates, by law, are given quite a lot of leeway on how to handle leftover money from a campaign. 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. There are provisions that allow a candidate to use the funds for any lawful purpose, so long as it's not personal use for the candidate.
Supposedly among Paul's idea for dispersing the cash are the usual suspects like supporting like-minded candidates through Paul's Liberty PAC. That's perfectly legal and a common practice among politicians.
But Paul also is considering another idea, one we feel leans on the dangerous fringe of acceptability and accountability. Paul is considering using the leftover cash to start a for-profit publishing company that would reflect his Libertarian-leaning views.
We think such a move is going far beyond what federal campaign finance rules allow and Paul should be discouraged from taking this particular path.
Paul would like to infuse his money into the FREE Foundation, which publishes his newsletter. First, the sole purpose of this style of publication is to influence public policy. The move also would make such a publication a for-profit endeavor, presumably with advertising and subscription fees.
Those who elect to run for public office must treat any campaign contributions in a sacred sense and owes it to the public to distribute leftover cash in a manner fully in compliance of the existing rules.
And while we realize those rules may be somewhat lenient, candidates should be honor bound to assure the public all contributions are being dispersed in a manner of complete honesty and secure ethics.
We urge Ron Paul to stay away from any for-profit project that deals with leftover campaign cash.
Now Paul is left with cash on hand, given by thousands of Americans in what is being called one of the most successful Internet money campaigns of all time.
According to one of Paul's campaign staffers, the Republican from Lake Jackson, about 50 miles south of Houston, has about $4 million in leftover campaign cash. Paul is now in the process of trying to decide what to do with all that leftover cash.
Candidates, by law, are given quite a lot of leeway on how to handle leftover money from a campaign. 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. There are provisions that allow a candidate to use the funds for any lawful purpose, so long as it's not personal use for the candidate.
Supposedly among Paul's idea for dispersing the cash are the usual suspects like supporting like-minded candidates through Paul's Liberty PAC. That's perfectly legal and a common practice among politicians.
But Paul also is considering another idea, one we feel leans on the dangerous fringe of acceptability and accountability. Paul is considering using the leftover cash to start a for-profit publishing company that would reflect his Libertarian-leaning views.
We think such a move is going far beyond what federal campaign finance rules allow and Paul should be discouraged from taking this particular path.
Paul would like to infuse his money into the FREE Foundation, which publishes his newsletter. First, the sole purpose of this style of publication is to influence public policy. The move also would make such a publication a for-profit endeavor, presumably with advertising and subscription fees.
Those who elect to run for public office must treat any campaign contributions in a sacred sense and owes it to the public to distribute leftover cash in a manner fully in compliance of the existing rules.
And while we realize those rules may be somewhat lenient, candidates should be honor bound to assure the public all contributions are being dispersed in a manner of complete honesty and secure ethics.
We urge Ron Paul to stay away from any for-profit project that deals with leftover campaign cash.
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