Fortune: Don't cry for John Boehner. He's leaving Congress with a war chest of cash
The main restriction is that he can never spend money from his campaign committee for personal use. Federal Election Commission regulations specifically say that candidates can’t use funds for mortgages, rent, tuition, country club dues, household supplies, and most clothing. Boehner could convert his millions in campaign money into a PAC, or political action committee. But even then, says Paul S. Ryan, senior counsel at the Campaign Legal Center, he can’t use the funds on himself in any way. ...
Boehner’s leadership PAC money will be awfully handy if he becomes a lobbyist since he can use the funds to contribute to other candidates and causes. “If I were retiring form Congress and intending to become a lobbyist, I’d keep my war chest,” says Ryan. “It’ll help open doors at the end of the day to get the policies that clients are paying for.”
To read the entire article at Fortune, click here.