Today, APT submitted comments to the Federal Election Commission in support of closing the “Bloomberg loophole.” In June, the FEC announced it was taking public comments on a petition to close a loophole that allowed failed presidential candidate Michael Bloomberg to transfer $18 million to the Democratic National Committee.
When Mr. Bloomberg ended his campaign in March, he transferred $18 million from his campaign to the DNC. As an individual, Mr. Bloomberg would not have been able to contribute that much directly to the DNC, but by using his campaign, he got around that limitation. APT immediately filed a complaint regarding this illegal contribution to the DNC.
Now, APT has weighed-in with the FEC in support of ending this loophole and making the limits the same for either candidates giving directly to a party committee or through transferring campaign funds. This proposal would still allow for money to flow between campaign committees; yet, it makes sure that no one is evading the intent of the law.
Read the full comments here.