Lautenberg raises limits with $1 million loan

U.S. Senator Frank Lautenberg’s $1 million loan to his re-election campaign triggers a new law that will allow his potential Democratic primary rivals to up their maximum individual contributions from $2,300 per election to as much as $12,600, according to Herb Jackson’s report in The Record. Republicans would be able to use the increased limits if Lautenberg transfers unused primary election funds into his general election account. This new law was witten in 2002, after New Jersey’s Jon S. Corzine spent nearly $70 million to win a seat in the United States Senate. The conventional wisdom is that Lautenberg wants a hefty warchest on hand to dissuade other Democrats — many of whom swear they have no intention of running if Lautenberg does — from challenging him for the 2008 Democratic nomination.

Lautenberg raises limits with $1 million loan