As of the September reporting period, Elizabeth Dole’s presidential campaign had $860,719 in cash on hand. Now that she’s left the race, where will the money go?
Legally, Dole could use the money for virtually any non-personal purpose. She could donate it to charities, give it to the Republican Party or to other candidates (although, the $1,000 per candidate limit would apply.) She could transfer the cash into a political action committee. She could even return the money to donors–an option candidates rarely pursue.
But most of Dole’s money will probably go to ongoing campaign expenses: rent, staff salaries, and payments to lawyers and accountants who must complete Federal Election Commission paperwork to officially close the campaign. Had Dole continued as a candidate, she would have received federal campaign matching funds beginning in January. If she fails to meet her ongoing obligations, she will be eligible to receive these funds to cover the shortfall.
Explainer thanksSlatereader Lisa Tozzi for suggesting this topic.