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Tuesday, October 02, 2007

Bleeding Heartland: Edwards' Situation

Excerpted from this post at Bleeding Heartland

Adam B. at Daily Kos has a very good post on what accepting public
financing means for John Edwards. I am going to try to summarize and
correct where I think he is wrong. He is a lawyer and I am not, but I
still think I'm correct. 1. The overall expenditure cap for Edwards
will theoretically be a little over $42 million. He can also spend up
to 20% on top of that ($8.5 million or thereabouts) for fundraising
expenses. The definition of fundraising expenses is pretty broad, so
he would certainly max that number out, giving him an effective cap of
maybe $51 million. Any money he spends on legal stuff (compliance,
etc.) doesn't count at all. 2. His Iowa maximum expenditure is
theoretically going to be around $1.5 million.

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