As the 2008 Presidential Election becomes even more important with the current financial meltdown, individuals and candidates from cities such as Rancho Santa Fe, California, Del Mar, CA, Carlsbad and La Jolla in San Diego to cities such as San Clemente, Laguna Beach, Corona del Mar, Newport Beach, Anaheim, and Irvine in Orange County, from San Luis Obispo to Santa Barbara to Ventura and Oxnard, to Rancho Cucamonga, Ontario, Murrieta and Temecula to Indian Wells, Palm Springs, La Quinta, Palm Desert and elsewhere in the Coachella Valley are having questions about campaign election finance laws and are looking for answers from election lawyers and campaign finance attorneys as to what amounts are permissible to contribute.
The individual campaign contribution limits for all federal offices for 2007-2008 are:
$2,3000 per election for a candidate for a federal office
This $2,300 can be contributed each individual in a married couple as well.
$28,500 per calendar year to a national party committee.
This applies separately to a party’s national committee, House and Senate campaign committee.
$10,000 per calendar year to state, district and local party committees.
$5,000 per calendar year to any other political committee.
An aggregate total of $108,200 per two year election cycle with a maximum of $47,200 per two year cycle to candidates and $65,500 to all national party committees and PACs, of which no more than $40,000 can be given to PACs
Foreign nationals may not contribute to any candidate, nor may any federal contractors. Corporations and labor unions may only establish PACs.
Cash of only $100 may be contributed. In kind contributions count against contribution limits.
Multicandidate PACs can give $5,000 to an individual candidate, $15,000 to a national party committee.
Non-multicandidate PACs can give $2,300 to an individual candidate, $28,500 to a national party committee.
A multicandidate PAC is a political committee with more than 50 contributors which has been registered for at least 6 months and, with the exception of state party committees, has made contributions to 5 or more candidates for federal office.
Any individual intending to campaign for any elected office needs to know election finance rules and should consult with a political campaign finance attorney at an early stage in their campaign decisions.
News Note – Democratic Presidential Candidate Barack Obama has set a new campaign contribution record with his announcement that his campaign fundraising efforts brought in $150 million in the month of September 2008. This gives Barack Obama a huge advantage which is reportedly allowing him to outspend John McCain by as much as 4 to 1 in some swing states. The campaign added 632,000 new donors for a total of 3.1 million donors to date. The average donor contribution to the campaign is $86.
Sebastian Gibson graduated cum laude at UCLA in 1972 and received two law degrees in the U.S. and the U.K., graduating with an LL.B. magna cum laude from University College, Cardiff in Wales and a J.D. from the University of San Diego School of Law in Southern California.
The Sebastian Gibson Law Firm serves all of San Diego, Orange County, Palm Springs and Palm Desert, the Coastal Cities from La Jolla and Del Mar to Laguna Beach, Newport Beach, Irvine, Santa Ana and Irvine and up to Ventura, Santa Barbara and San Luis Obispo. We also serve the Inland Empire cities of Ontario, Rancho Cucamonga, Temecula, Riverside and San Bernardino and all the cities in the Coachella Valley