<div> Seventeen members of the House of Representatives, who have announced their retirement at the end of this Congress, are holding a total of over<strong>$10 million in campaign and leadership PAC accounts </strong>as of the end of the year. Campaign committees may use the funds for any lawful purpose, but the funds can't be converted to personal use. Some members donate funds to non-profits, charities, educational institutions, political parties, other candidates (within limits), or refund contributions to the original donors. Or they could leave the funds in the campaign account, and keep it going to years. Leadership PACs of members of Congress are not restricted as much as campaign committees. There is no prohibition on the use of leadership PAC funds for personal use. The Federal Election Commission has recommended that the prohibition of the personal use of campaign funds be extended to apply to all political committees, including leadership PACs. View earlier <a title="posting" href="https://blogs.rollcall.com/moneyline/left-over-campaign-funds-find-new-purpose/" target="_blank" rel="noopener noreferrer">posting</a> with examples of members handling of leftover funds. Those retiring at the end of this Congress include: </div> <div> <div>Rep. Michele Bachmann, R-Minn., campaign cash $1,791,236 with debts of $138,494 (includes presidential campaign).; PAC cash $74,554 with debts of $6,559.</div> <div>Rep. Tom Latham, R-Iowa, campaign cash $854,740; PAC cash $48,239.</div> <div>Rep. Jim Gerlach, R-Pa., campaign cash $851,793; PAC cash $12,427.</div> <div>Rep. Henry Waxman, D-Calif., campaign cash $757,270; PAC cash $82,937.</div> <div> <a href="https://rollcall.com/2014/02/05/retiring-house-members-hold-10-million-in-accounts/#more-203140" class="more-link"><span aria-label="Continue reading Retiring House Members Hold $10 Million in Accounts">(more…)</span></a></div></div>
