Political Quotes

“the intent of division N, section 101 is to establish separate limits for funds raised into separate, segregated accounts established by national political party committees for certain specified purposes. All of these funds are ``hard money'' subject to all of the source limitations, prohibitions, and disclosure provisions of the act. The first account, described in section 315(a)(9)(A) of the Federal Election Campaign Act of 1971, ``FECA'', as amended, is intended to allow a national committee of a political party--other than a national congressional campaign committee--to defray expenses related to a Presidential nominating convention using funds raised under separate, increased limits. Section 315(a)(9)(A) also caps the aggregate amount of expenditures a national political party committee may make from such account with respect to any convention at $20,000,000. This section is intended to provide national political party committees with a means of acquiring additional resources to be used specifically in connection with the funding of Presidential nominating conventions because such conventions may no longer be paid for with public funds. It is the intent to allow these funds to be used in the same manner as the former public funds could have been used, as well as to pay for the costs of fundraising for this segregated account.…”