A surviving renmant of the McCain-Feingold Law sharply restricts the ability of individuals to donate funds to political parties. However, recently Michael Bloomberg gave millions of dollars to the Democratic Party, money taken from his presidential campaign account.
On May 29, Shaun McCutcheon asked the Federal Election Commission if he could make a similar donation to the Libertarian Party, for $50,000. McCutcheon had filed on May 1 to run for the Libertarian Party presidential nomination. He has over $50,000 left over in his campaign account. Now he wants to transfer that amount to the party, just as Bloomberg had done for the Democratic Party. Here is his request.
McCutcheon already won a campaign finance lawsuit in the U.S. Supreme Court several years ago. In McCutcheon v FEC, the Court ruled 5-4 that the limit on how much individuals can donate to all federal candidates cumulatively in any particular election year violates the First Amendment. Thanks to the Institute for Free Speech for this news.