DNC to File complaint against McCain for violation of His Own Campaign Finance Laws

Howard Dean, the Chair of the Democratic National Committee, is very upset with John McCain.  Apparently, when the McCain campaign was not doing very well back in December, McCain was strapped for cash and applied for federal matching funds using the promise of Public Financing as collateral for the loan.  Public financing is funded by taxpayers checking the box on their tax returns indicating that they would like to donate to the Federal Election Commission.  Candidates opting into the public finance system are also subject to public finance regulations.  Public finance regulations set spending limits for candidates in primaries and the general election.  In primaries, the cap is set at $54 million.  McCain has already spent $49 million on his campaign.  Therefore, if he were to abide by the election laws, that McCain is responsible for reforming, the Arizona Senator will only have $5 million left to spend in this primary season ending in September.  Because McCain does not want to be limited by the spending cap, he has formally requested a withdrawal from the program.  McCain’s lawyer argues that McCain is allowed to opt out of the program because it is voluntary.  FEC lawyers announced on Thursday that it may not be possible for McCain to withdraw at this point because he used the promise of federal matching funds to secure the bank loan.  Okay, didn’t McCain attempt to slam Obama for not responding, and according to McCain breaking his word, regarding a pledge Obama signed last year regarding public campaign financing.  Even though the actual wording of the pledge is to “aggressively pursue an agreement” with the GOP to preserve a publicly financed election.  Last I checked, an agreement to “agressively pursue” agreement, does not mean actual agreement.  Participating in the public finance system caps each candidates spend in the general election to $85 million and neither candidate cannot accept additional funds.  But I digress.  Looks like Mr. McCain should be in fact, Mr. Pot calling Mr. Kettle.  Currently four of the six member seats of the Federal Election Commission are vacant so no decision can be made on this issue until the FEC has quorum.  Gridlock between the Bush administration and the Senate is stalling the nominations for these posts.  The reason this is such an issue is because McCain has built his reputation, after the Keating Five scandal (five Senators, including McCain, accused of Savings and Loan corruption in 1989), on being a reformer and the champion of campaign finance reform. 

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