PHILADELPHIA — Consider the forlorn fate of a super PAC that has outlived its political purpose: PHILADELPHIA — Consider the forlorn fate of a super PAC that has outlived its political purpose: ADVERTISING Once flush with cash in support of
PHILADELPHIA — Consider the forlorn fate of a super PAC that has outlived its political purpose:
Once flush with cash in support of a rising Republican candidate trying to dodge Mitt Romney’s mallet in this year’s primary game of Whac-A-Mole. Now, sitting on a pile of greenbacks, its man beat back into the annals of presidential history and no spending goals in sight.
So what happens to the millions collected by such groups on behalf of the Rick Santorums, Rick Perrys and Jon M. Huntsman Jrs. of this world when these would-be presidents wind down their campaigns?
In short, campaign finance experts said, super PAC managers can spend the money on whatever they like.
“Theoretically, they could buy a yacht and sail off into the sunset, drinking margaritas if they wanted to,” said Paul S. Ryan, a campaign finance expert at the nonpartisan Campaign Legal Center. “In a nutshell, there are no restrictions.”
Well, except for two. The rules still prohibit such committees from donating directly to specific candidates and political parties or coordinating their spending with either.
That means none of the $5.1 million collected (as of its latest federal filings) by the Santorum-supporting Red, White and Blue Fund can go toward eliminating the nearly $1 million debt the former Pennsylvania senator incurred on the trail before he left the race Tuesday.
Much has been made of the influence of super PACs on the 2012 campaign, thanks to a series of federal court rulings that opened the floodgates for such committees to accept unlimited and effectively anonymous contributions from individuals, corporations and interest groups, and spend it just as liberally. This new kind of fundraising also means new questions about what becomes of these caches of cash when their founding mission evaporates.
Ryan notes that, unlike the campaign committees formed by individual candidates, super PACs aren’t barred from using their money on personal expenditures — a loophole the Federal Election Commission has unsuccessfully lobbied Congress to close. But, he said, going that route “would be career suicide” for any fund manager.
More likely, a defunct super PAC might dissolve, independently spend in support of other candidates, or refocus its mission toward new causes or charities.
That said, super PACs for erstwhile Republican hopefuls have fallen, like their candidates, on hard times.
When former Utah Gov. Huntsman withdrew from the race in January, the committee backing him, Our Destiny, had less than $900 in its coffers, according to its latest filings. The Perry-affiliated PAC Make Us Great Again can lay claim to $600,000 — a tidy sum, but not likely to sway any national race. (Neither committee responded to calls about their future plans.)
So far, both have spent their leftovers on paying bills for media consultants and other services incurred in the campaign.
Neither has reported new donations since their candidates bowed out — unless you count that of unlucky retiree Alvin Shoemaker of Madison, N.J., who gave $5,000 to Our Destiny on Jan. 16, mere hours before Huntsman called it quits.
It’s too soon to tell what the Santorum-backing Red, White and Blue Fund has left in its bank. As of Feb. 29, it reported $365,000 cash on hand, but it has since disclosed half-million-dollar ad buys to support Santorum’s grueling primary fights in states like Ohio and Wisconsin.
