Bloomberg: “Lawmakers who aren’t running for reelection can’t raise money for campaign committees, but they’re allowed to solicit cash for leadership PACs, separate funds for doling out to colleagues and party committees.”
“But there’s a catch: If they have any leftover money, they can take it with them. Leadership PAC funds have few restrictions for ex-lawmakers, campaign finance lawyers say.”
“Lobbyists and corporations sometimes balk at giving out money—or do so begrudgingly—to departing members, who could become competitors on K Street within months. But donations can offer valuable time with someone still in office.”
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