EXCLUSIVE: Citizens United is calling on the Federal Election Commission to end what it calls a campaign finance “loophole” after Mike Bloomberg transferred more than $18 million from his now-suspended, self-funded presidential campaign to the Democratic National Committee.
Citizens United, a conservative nonprofit famous for its role in actually loosening campaign finance restrictions, filed a petition with the FEC this week. The filing, exclusively obtained by Fox News, pushes to limit the amount that a federal candidate may transfer to a committee of a national political party in order to prevent a self-funded candidate, like Bloomberg, from transferring what are essentially personal funds in amounts that otherwise exceed annual limits.
The petition states that “since 1980, the Federal Elections Campaign Act has allowed candidates for federal office to transfer surplus funds to their official campaign accounts to national, State or local party committees without limitation.”
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But the filing notes that, historically, such transfers were largely composed of contributions made within normal limits from a combination of individuals, political action committees and parties.
Read the rest of the Fox News article…