Michael Toner Comments on Record Fundraising in Presidential Campaign
Election Law & Government Ethics Practice co-chair Michael Toner was quoted in an article that focused on the record $2 billion raised for the 2012 presidential election. Fueled by donations from ordinary and wealthy citizens, the 2012 presidential campaign is on track to be the costliest in American history.
As the article reports, nearly $300 million in donations from super PACs, along with tens of millions in donations to nonprofit organizations that run election-related ads, have contributed to the unprecedented amount of money that is being spent in connection with the 2012 presidential election. Additionally, both President Obama and his challenger Mitt Romney eschewed the use of the presidential public financing system that imposes limits on how much funds presidential candidates can raise and spend for their campaigns. “The close race between Obama and Romney and the sharply polarized electorate have also played a role in accelerating the dash for dollars,” Mr. Toner explained. “I don’t know any campaign manager who thinks they have too much money. In this political 50-50 environment you can’t ever have enough. Every last million could make the difference in who is elected,” Mr. Toner noted.
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