Not sure if this should be here or in GQ, but apparently former Indiana Senator is coming out of retirementto take over as the Dem Senate nominee. Its been noted that he has a name advantage over his Rep opponent, and most oddly, a $10 million cache of unspent funds from 2010.
How does that work? If you’re running for office and have campaign money, it just stays with you forever? I thought as soon as you’re not running anymore, it goes to the next guy, or is refunded. Who keeps control of this money? Has it been just sitting in some bank accruing interest all this time, waiting for it to be spent by Bayh and Bayh only?
So other than personal, its just his until the end of time? He can wait 50 years and donate it, or use it to fund local elections, or blow it all on a giant political rally after the election is over? That seems wrong somehow
I know this is slightly off topic, but since it’s the only thread on Evan Bayh I just want to say that it’s great to have him back. He’s always been one of the adults in DC.
Put it under the control of the state or national party committee to fund other candidates would be the obvious solution. Maybe not immediately but at the end of the current election cycle would make sense. So the dropped out candidate could either use it to fund another candidate or donate it to charity while the current election cycle is ongoing, or forfeit it to the state / national party committee if they don’t spend it.
I’ve always thought it was for the candidate to use for the current race, and then it gets defaulted to the party. Like when Bayh ended the last race, win or lose, the money is then turned over to the DNC to be used as general overhead. If Bayh runs again, he’ll have to raise money again, or the DNC can give him a stipend equal to the amount of dollars he put in last time at the conclusion of his race.
In this way, it makes the national parties more capable of supporting its own candidates, it allows unspent money to not be tied up to a specific person for who knows how long, and it frees up the candidate from having to raise money completely from scratch each time but at the same time, allowing a warchest to be used based on past performance and fundraising capability. Just seems like common sense
The money was donated by lots of people over the span of several years to further Evan Bayh’s political career. Evan Bayh’s, no one else’s. It’s his money, indefinitely, to use for such political allies and causes as he sees fit. Although he left the Senate seeming to suggest that his career there was over, he obviously has had a change of heart, and is within his rights to use it to jump-start another Senate bid.
Not sure what happens to it if he dies. If I were him, I would provide in my will for it to go to the Indiana Democratic Party.
(FWLIW, I know a guy who used to work very closely with Bayh, who said he was good-natured but not exactly the sharpest knife in the drawer).