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Joint Fundraising Redefined

"Joint fundraising committees" are normally created by national parties to collect money for several candidates at once. The candidates are often from the same state. Funds collected by the joint committee are distributed among the candidates and the party. But Rep. Eric Cantor, R-Va., has turned the practice on its head with his Cantor Joint Fundraising Committee, a candidate-run committe that offers one stop shopping for wealthy Cantor supporters.

The CJFC raised $94,200 during the first quarter of 2007, not an unusual amount, except that $89,200 of it came from just two donors: Lindsay and Rivki Rosenwald of Lawrence, N.Y. Lindsay is the CEO and Chairman of Paramount BioCapital.

The Rosenwalds' money will be split among four separate recipients: Cantor's campaign committee, his leadership PAC (Every Republican is Crucial), the 7th District Republican Committee (a local party committee in Richmond, Va.) and the National Republican Congressional Committee.

The Rosenwalds' contributions account for nearly half of all the money they are able to give to federal candidates and committees for the 2008 election. Cantor benefits since three of the recipients are either controlled by him or located in his home area. And instead of having the national party take the credit for raising the money, Cantor can claim credit while still filling NRCC coffers.

By  |  April 12, 2007; 6:00 AM ET
Categories:  Campaign Finance  
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Comments

How much money does Eric need to buy the election?

Posted by: Robert James | April 12, 2007 11:05 PM | Report abuse

Congressman Cantor is an excellent representative and is re-elected by an overwhelming majority of the voters each election.

Inspite of the tone of this article, you can rest assured that if Eric Cantor raised the funds in this manner it is 100% legal because that is the ONLY way that he operates: honest & above board.

Cong. Cantor is one of the most ethical people in congress. But we should never expect the liberal biased news media to do anything except attack Republicans while ignoring larger sins by the Pro-Sin Party a.k.a. The Demon-crats.

Posted by: Bobby May | April 13, 2007 1:16 AM | Report abuse

There's nothing illegal about using joint fundraising committees in the manner that Cantor did here. It's merely a twist on how such committees usually operate - instead of originating with a national party, this one is the vehicle of a congressman.

Posted by: Derek Willis | April 13, 2007 5:50 AM | Report abuse

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