Two Minute Tips

The $4B presidential campaign?

February 20, 2015

Share this article:

Joe Biden shoots a selfie during a South American trip. Photo: The White House

Former Florida Gov. Jeb Bush is back in the news. He’s been on the campaign trail, but he’s not looking for votes. He’s looking for money.

As John Cassidy reports for The New Yorker, Bush is making a series of fund-raising appearances that could determine whether he can find the cash to run for the Republican nomination for president in 2016.

Writes Cassidy, “Since he’s still not officially a candidate, he isn’t bound by campaign-finance rules governing Presidential campaigns. This means that he can raise large sums of money with fewer restrictions.”

And, it looks like he’ll need it. Speaking in Iowa last week, Vice President Joe Biden suggested 2016 could be the first time presidential candidates raise a collective $4 billion.

Biden sees each candidate needing $2 billion for their run. If that happens, it would be almost double the $2.3 billion that Barack Obama and Mitt Romney raised for their 2012 race — $1.1 billion by Obama, $1.2 billion by Romney, according to an analysis by the Center For Responsive Politics.

We told you earlier how the candidates are raising money both themselves and through SuperPACs, which were enabled by the 2010 Citizens United v. Federal Election Commission ruling by the U.S. Supreme Court. Cassidy, in the magazine, says Biden might not be too far off the mark.

He writes, “In any case, Bush has cleverly structured things so that he can raise a boatload of money. Next week, he’s scheduled to attend another lavish fund-raiser, this one in Palm Beach, where he could raise five million dollars. Kenneth Gross, a former attorney for the Federal Election Commission, suggested … that Bush was creating a new template for Presidential campaigns: money first, politics later.”

Keep that in mind as you listen to the public remarks of the candidates. What they’re saying at the moment isn’t aimed at winning votes. It’s aimed at writing checks.



Federal Election Commission

More Like This...

The clock is ticking: Deadline for entries to the 2017 Barlett & Steele Awards is this Monday, July 31. (Image from Photoshot via Pixabay, CCO Public Domain)

The stakeholders of daylight saving time

On Nov. 1, households across the country will participate in two national rituals: taking down Halloween decorations, and, more urgently, setting their clocks back by an hour.  The biannual switch

Localizing the fight over gig economy legislation

Assembly Bill 5 (AB5) went into effect in California on January 1 amid much controversy. The bill was designed to combat worker misclassification and provide greater labor protections to gig

Two Minute Tips

Sign up now.
Get one Tuesday.

Every Tuesday we send out a quick-read email with tips for business journalism.

Subscribers also get access to the Tip archive.

Get Two Minute Tips For Business Journalism Delivered To Your Email Every Tuesday

Two Minute Tips

Every Tuesday we send out a quick-read email with tips for business journalism. Sign up now and get one Tuesday.