Excess McCain campaign cash goes to charity . . . Donations not put toward 2012 race?

by ~ The Rebel ~ Posted 2012/04/12 18:39:29

Related Topics: Sarah Palin, Mitt Romney, George W. Bush, John McCain, Republican, Alaska, McCain, Election, Party, Race, Donations, Funds, Financial, Presidential, Sarah, 2008, Charity

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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 money was collected from Republican donors in 2007 and 2008 to support the party’s nominee for the nation’s highest office when Mr. McCain ran alongside then-Gov. Sarah Palin of Alaska.

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.