Individual Use of Independent Expenditures
An individual could not use independent expenditures on his own campaign. However, individuals, like an existing elected official, could form a Leadership PAC. This type of PAC allowed unlimited spending on like minded individuals and ballot measures provided it was an independent expenditure. Leadership PAC.
While funds could not be spent on their own campaigns, individuals that controlled a PAC were allowed to subtract expenses to pay normal administrative expenses. When lampooning spending of this nature, Stephen Colbert claimed normal expenses included luxury hotel stays, private jet travel, and PAC mementos from Saks Fifth Avenue and Neiman Marcus."
Read more about this topic: Independent Expenditure
Famous quotes containing the words individual and/or independent:
“The individual who has to justify his existence by his own efforts is in eternal bondage to himself.”
—Eric Hoffer (1902–1983)
“In the great department store of life, baseball is the toy department.”
—Los Angeles Sportscaster. quoted in Independent Magazine (London, Sept. 28, 1991)