Dave McCormick gave more than $14 million to his own 2022 campaign, but he still spent tens of thousands of donor dollars he wasn’t allowed to touch.
Multimillionaire Dave McCormick put more than $14 million of his own money into his failed 2022 Senate campaign. But as he mounts a 2024 comeback, new disclosures this week reveal that, despite his enormous personal investment, his 2022 campaign still overspent money that his donors had contributed—in violation of federal law.blessed him with an endorsement—McCormick was already under scrutiny for financing what legal experts said appeared to be a shadow campaign ahead of his 2024 revenge run.
This arrangement is all the more peculiar, because McCormick—a former hedge fund executive with a personal net worth well into theoverspent his donors’ money. “Basically, a candidate must carefully separate contributions for the primary from those for the general, and be prepared to refund the general election contributions within 60 days of losing the primary,” Fischer told The Daily Beast.
Campaign committees are only allowed to raise money from donors after losing an election if they’re still carrying debt and the funds are marked for “debt retirement.” This January, more than a year after it raised its last dollar, the McCormick 2022 campaign began collecting new donations again—some of it in transfers from an affiliated joint committee that had received the donations as early as October of last year.fame and the owner of Sheetz gas stations.
“I certainly haven’t seen something like this before,” Libowitz said, adding that if McCormick is just keeping Roe’s debt on the books in order to repay donors whose money he’s already spent, “that would be another major issue.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Steak in the race: Dave McCormick visits Geno’s with former Sen. Pat ToomeyMcCormick's critics panned the cheesy photo op, noting on social media that it’s mainly tourists who traverse the popular stretch of Passyunk Avenue dubbed “cheesesteak Vegas.”
Read more »
Pennsylvania Senate hopeful Dave McCormick lays out economic prioritiesDave McCormick, the Republican contender in Pennsylvania’s Senate election, wants to cut regulations and pare back the administrative state.
Read more »
Dave McCormick’s former company invested in Chinese manufacturers of military equipment: ReportRepublican Dave McCormick responds to a report about his former hedge fund's Chinese holdings. McCormick, who is challenging Bob Casey, has been a hawk on China during the campaign.
Read more »
Former President Trump Endorses Republican Senate Candidate Dave McCormick in PennsylvaniaFormer President Donald Trump has endorsed Republican U.S. Senate candidate Dave McCormick of Pennsylvania, urging his supporters to vote for him in one of the year's most hotly contested Senate races. Trump's endorsement comes two years after he successfully helped sink McCormick in Pennsylvania's Senate GOP primary.
Read more »
Donald Trump Endorses PA Senate Candidate Dave McCormickSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
This wealthy GOP Senate candidate has an issue paying taxes on timeSandy Pensler, a wealthy businessman running to be Michigan's next senator, delivered what he thought was a straightforward message in a March TV ad.
Read more »