Bloomberg Transfers Campaign Assets to Democratic Party

“Mike Bloomberg has decided to donate significant componentsof his shuttered presidential campaign to the Democratic Party, a historic bequest that includes an $18 million cash infusion to organize for the general election in swing states,” the Washington Post reports.

“The decision, which exploits a provision in campaign finance law available only to federal candidates, amounts to a shift in strategy for the billionaire political activist, who had previously promised to personally fund ground staff and offices in six states through an independent expenditure effort.”