Backer really sends the point home when he states, "it is a bedrock principle of law that you cannot do through another what you cannot do yourself."
But Democrats aren’t going away. They still want to end the Trump presidency come Election Day — their goal since 2016. Leading the charge is Michael Bloomberg, who just finished blowing through nearly $1 billion in his failed attempt to buy the Democratic nomination. Having proved there’s no amount of money that will make Americans vote for someone they don’t want to vote for, “Mayor Mike” is now trying to buy the party itself.
Instead of running his own super PAC, Bloomberg recently decided to transfer $18 million in remaining funds from his defunct presidential campaign to the Democratic National Committee. Just one problem: This $18 million gift is illegal.
Bloomberg contributed nearly $1 billion of his personal funds to his presidential campaign committee, without raising a single dollar from private contributors. He is entitled to waste as much of his own money on his own candidacy as he likes, as long as it’s all reported to the Federal Election Commission. However, after failing to buy the votes he needed, Bloomberg now plans to take advantage of an FEC rule that allows campaigns to contribute unlimited money to national and state parties. But every dime of it comes from Bloomberg's personal bank account, and it is illegal for one person to contribute such large sums to a political party.
The loophole that Bloomberg is seeking to exploit doesn’t actually exist. Campaign finance law distinguishes between contributions and expenditures. Bloomberg can expend as much as he wants on his own race. Contributing his own personal funds to his campaign is the proper and efficient way to expend those funds. But using those same funds to then make a contribution to the DNC is outside the scope of the law.