Excess McCain campaign cash goes to charity . . . Donations not put toward 2012 race?
The dormant 2008 presidential apparatus of John McCain this year transferred nearly $9 million in old donations to an educational charity run by three major political supporters that bears the Arizona senator’s name, filings showed Tuesday.
The big-money move stands in contrast to President George W. Bush, who found himself in a nearly identical financial position but gave the millions instead to the Republican National Committee. Party committees are a typical destination for excess political cash, and the money would have dramatically bolstered the RNC’s position as the chief financial resource of the party’s presumptive nominee, Mitt Romney.
The $9 million in leftover funds was transferred to the McCain Institute Foundation in two disbursements in February and March, according to a quarterly filing Tuesday with the Federal Election Commission.
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