Millionaire's amendment in California
AP reports: Trailing in fund-raising and polls, [California] Republican U.S. Senate candidate Bill Jones said Wednesday he will spend $2 million of his own money on his race to unseat Democratic Sen. Barbara Boxer this November.
Made on the eve of the release of quarterly fund-raising reports expected to show him far behind Boxer in campaign cash, Jones told a luncheon gathering of the Sacramento Press Club he would spend the money because "this election is as critical as any election in generations." ...
Analysts called the gesture a sign of fund-raising trouble.
"Candidates dip into their own pocket when they can't raise the money," said Robert Stern, president of the Los Angeles-based Center for Governmental Studies. "It's a little bit of desperation, frankly."
Jones, a Fresno-area businessman, former secretary of state and 1990s Republican Assembly leader, can make the donation without triggering the new "millionaire's rule" that would allow Boxer to double amounts she can receive from individuals and political action committees. -- AP Wire | 07/14/2004 | Jones pledges $2 million in personal funds for race against Boxer (AP via sanluisobispo.com)