Wednesday, March 21, 2007
Newt Gingrich Raising Millions
Former House Speaker Newt Gingrich has decried the early start of the 2008 presidential race and the massive fund-raising it necessitates. But Gingrich himself has been busy raising cash for his new political organization.
Gingrich’s group, American Solutions for Winning the Future, has collected more than $2.1 million since it was created in October. It’s a so-called 527 organization, so it would be illegal for
Gingrich to use any of that money in a presidential campaign if he decides to run, as some have speculated. Gingrich has said he won’t make a decision until the fall.
"Still, the group can pay for salaries, Gingrich’s travel, office space, fund-raising, direct mail, television and radio ads and the like,” The Politico reports.
"In other words, it can fund the foundation for a campaign before there is one.”
American Solutions’ Web site says it seeks to build a network of more than 500,000 elected officials from all levels of government, along with activists and volunteers, "to create a wave of change that meets America’s challenges, seizes our opportunities and builds a better future for all Americans.”
The bulk of the money raised so far by Gingrich’s organization came from two donors who each contributed $1 million – Las Vegas Sands Corporation Chairman Sheldon Adelson, and North Carolina real estate developer Fred Godley.
There are no limits on the size of a contribution to a 527 organization.
In an address last week at Goucher College in Maryland, Gingrich said about the long campaign season: "I think it is absurd to have people out here running around raising money, arguing about politics for an entire year.”
Former House Speaker Newt Gingrich has decried the early start of the 2008 presidential race and the massive fund-raising it necessitates. But Gingrich himself has been busy raising cash for his new political organization.
Gingrich’s group, American Solutions for Winning the Future, has collected more than $2.1 million since it was created in October. It’s a so-called 527 organization, so it would be illegal for
Gingrich to use any of that money in a presidential campaign if he decides to run, as some have speculated. Gingrich has said he won’t make a decision until the fall.
"Still, the group can pay for salaries, Gingrich’s travel, office space, fund-raising, direct mail, television and radio ads and the like,” The Politico reports.
"In other words, it can fund the foundation for a campaign before there is one.”
American Solutions’ Web site says it seeks to build a network of more than 500,000 elected officials from all levels of government, along with activists and volunteers, "to create a wave of change that meets America’s challenges, seizes our opportunities and builds a better future for all Americans.”
The bulk of the money raised so far by Gingrich’s organization came from two donors who each contributed $1 million – Las Vegas Sands Corporation Chairman Sheldon Adelson, and North Carolina real estate developer Fred Godley.
There are no limits on the size of a contribution to a 527 organization.
In an address last week at Goucher College in Maryland, Gingrich said about the long campaign season: "I think it is absurd to have people out here running around raising money, arguing about politics for an entire year.”
