Archive for the ‘fundraising’ Category

Even as Vice President, Biden Keeps “Biden for President Inc.” Open to Tidy Up Loose Ends

January 23, 2009

Joe Biden ended his own presidential bid after coming in fifth in the Iowa caucuses more than a year ago. But his presidential campaign lived on — and continued receiving taxpayer money — well after he was elected vice president.

The vice president is not gearing up to challenge President Barack Obama in the 2012 Democratic primaries, though. Rather, he’s keeping his committee, Biden for President Inc., open to tidy up loose ends in preparation for a mandatory federal audit, which could become expensive to defend.

So, Biden continued requesting federal funds for his campaign — through the so-called primary matching funds program — for months after he was tapped to be Obama’s running mate.

By Kenneth P. Vogel

Vice President Joe Biden and his wife Jill dance at the Commander-In-Chief ... 

In all, Biden’s campaign received more than $2 million through the program, which matches private contributions with taxpayer money. He requested more than $37,000 in matching funds after he joined the Democratic ticket, including a final payment of $2,275 which came just last week.

The trickle of payments and upkeep of the committee, which continues to pay consultants’ bills and rent office space in Delaware, creates odd optics, but is not uncommon in the quirky world of campaign finance. The situation results from arcane federal election laws that require many campaign committees to stay open — and keep a cash reserve — for months, or even years after an election to balance their books….

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