Hillary Clinton, the Democratic front-runner, stated that she was raising money that would go directly to help state committees. The potential Democratic nominee has raised a staggering $60 million, of which only 1% was left to the state committees she vowed to help.
Clinton began raising money last summer and stated that her fundraising vehicle was “to rebuild our party.”
Clinton entered into a joint fundraising committee with the Democratic National Committee and 32 state committees under the Hillary Victory Fund. The joint fundraising allows Clinton to receive up to $350,000 in donation checks from rich supporters.
The fund transferred $3.8 million to state parties, but records show that this money is removed by the DNC within one to two days. Nearly 88% of all the money given to the state committees has been removed, or $3.3 million out of $3.8 million.
The majority of the victory fund has been transferred to the Clinton campaign directly and indirectly. The fund directly transferred $15.4 million to Clinton’s campaign and indirectly spent $23.3 million on expenses that benefitted Clinton’s campaign, such as $8.6 million for web advertising and $2.8 million for overhead and salary.
The Hillary Victory Fund asserts that it is helping state parties, yet maintains full control over the money it raises.
