Lucrative Loopholes
BY Taylor Rausch | July 16, 2008
John McCain has raised over $62 million earmarked for the general election, Daily Kos reports. Through loopholes that McCain’s “Victory” committees have found in Federal Election Commission regulations, McCain will be able to funnel donations to the Republican National Committee and couple that with his $85 million in public financing.
A majority of the donations making up the millions average $25,000, as RNC donations have a much higher cap. The McCain team has budgeted for a $400 million campaign through November 4.
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