Help me understand how Campaign Financing works now

[Liberal Christian]

Help me understand this deal about Campaign Finance Reform and public financing for the presidential race.

Kerry has been fundraising right up to the last minute. Yet I keep reading that all he can spend after he accepts the nomination is $75 million. Can he no longer spend anything that's left over from the primaries? If not, why are they still raising money? I don't understand this . . .

[Liberal Christian]

1. gotta kick my own post

because I really want to know

[RoyGBiv]

2. Complicated...

The Kerry campaign released a press announcement about this a few days ago but I don't remember the specific details.

Basically, if they "commit" funds to a certain purpose, they are legally spent. That is, they can take whatever they raise up to the nomination and commit it to ads that may not run for two months, and that money will still be considered spent and not subject to the finance rules governing the $75 million. If there is anything left over on top of what they commit, it'll go to the DNC, which can spend it to further its interests in various areas.

So, they are still raising money for two reasons. What they take in between now and the nomination, they can spend in advance on ads or whatever that will be run later. They can also then donate funds to the DNC for similar purposes.

[Liberal Christian]

3. Aha! Thanks.

That makes sense.