Lamar's money-laundering loophole


Sadly, there's no traffic jam on the High Road of Politics these days. Politicians of both parties are all on the low road rushing around in a mad scramble for corrupt corporate cash to finance their campaigns.

If you think this money chase is going to ease off anytime soon, take a peek at the brand new fundraising loophole that Republican presidential wannabe Lamar Alexander is trying to squeeze through.

Alexander, former governor of Tennessee, made a hugely unsuccessful run for president in 1996. Afterwards, he whined loudly that the federal government's $5,000-per-person limit on contributions to a political action committee should be lifted. He said it cramps his style of getting really big bucks from Fat Cats.

He didn't get a lot of sympathy, but, hey, Alexander isn't called "Loophole Lamar" for nothing. The Boston Globe reports that under Tennessee law, a person can give up to $100,000 to a state PAC, and there are very few restrictions on how that money can be used, including transferring it to a federal PAC. So -- abracadabra! -- Alexander has already moved a cool million bucks from his state pocket to his federal pocket, even though most of this money comes from Fat Cats giving way beyond the $5,000 federal limit. For example, the Globe reports that Alexander took an Iowa businessman to breakfast, told him about this loophole, and collected a $95,000 contribution -- 19 times what federal law allows.

When the head of Dan Quayle's presidential PAC was told about "Lamar's Loophole," he said: "I didn't know you could do that. I'm flabbergasted." He quickly recovered, though, and now Danbo Quayle has his own state PAC in Virginia -- a state with no limits on contributions.

To learn how to stop this shameless money-laundering, call Public Campaign: (202) 293-0222.


Scroll to read more Orlando Area News articles
Join the Orlando Weekly Press Club

Local journalism is information. Information is power. And we believe everyone deserves access to accurate independent coverage of their community and state.
Help us keep this coverage going with a one-time donation or an ongoing membership pledge.

Newsletters

Join Orlando Weekly Newsletters

Subscribe now to get the latest news delivered right to your inbox.