John McCain and the Money: Ongoing Public Financing Issues
Remember those bad old days when John McCain was broke and barely holding on? You know, the middle of 2007? Well, during his little financial crisis, McCain signed up for public financing in order to stay afloat. It came in handy — John McCain looks like the anointed Republican nominee despite some lingering policy issues with the right. These days, he’s doing well enough that he’s getting plenty of monetary support, to the point that he’s bumping up against legal limits imposed by that public money McCain accepted not so long ago.
The FEC wants to have some words with the senator from Arizona, and he, in return, wants to have some very different words. The FEC is of the opinion that McCain may have already violated some of the terms of the public financing laws with a bank loan earlier in the campaign (discussed in detail in this Talking Points Memo post). McCain is attempting to withdraw from the public financing system while the FEC is trying to discuss the loan. The real question here is whether a candidate is legally allowed to use public funds for their campaign and then pull out of the public financing system when it becomes convenient.
My knowledge of election law is pretty limited, but it seems to me that if a candidate can do just that then the system is beyond flawed and is just another way for the FEC to take some abuse.
