Money Troubles for Newt?
Via Politico: Newt Gingrich struggles to raise hard money
Newt Gingrich raised a meager $53,000 into his political action committee in the first three months of the year, highlighting potential fundraising difficulties as the former House Speaker girds for a campaign for the GOP presidential nomination.
Gingrich has raised tens of millions in huge donations into American Solutions for Winning the Future, a so-called 527 committee outside the purview of the Federal Election Commission, allowing him to build a robust political operation that has kept him in the spotlight as he flirted with a White House bid.
But his presidential campaign would not be able to accept such large contributions and would instead be restricted to limited hard money donations of $2,500 per individual — half as much as the $5,000-per-individual maximum contributions that can be accepted each year by his leadership political action committee, American Solutions PAC.
Forget early polls—here is s real indicator of problems for Gingrich.
It also is an interesting case study in the differences between raising soft money for issue advocacy versus hard money for campaigns.
Of course, while a Gingrich for President campaign would not be able to receive money from his 527, the 537 could spend money to support Gingrich or to attack his rivals. For example the Swift Boat Veterans for Truth was a 527 that clearly targeted John Kerry in 2004.