Likely Republican presidential candidates in 2012 are raising millions in campaign funds. The group of hopefuls includes Haley Barbour, Newt Gingrich, Mike Huckabee, Sarah Palin, Tim Pawlenty, and Mitt Romney. No news there, right? Well, all of this money is being raised outside of the reach of campaign finance laws.
Under federal law, presidential candidates must create an exploratory or presidential fundraising committee prior to collecting any campaign donations. However, in order to skirt this troublesome law (intended to reduce the influence of money over politics), candidates are raising funds for their political action committees (popularly known as PACs). PAC funds can legally be used for essentially the same purposes as direct campaign contributions, for consulting, staff and travel.
Click here for more from USA Today.
Click here for more from USA Today.
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