The FEC gave Stephen Colbert a conditional OK to form his Super Pac for the 2012 elections. Colbert will be able to raise and spend as much money as he can for political actions outside of his TV program, but he will have to report any contributions given to him by the show’s corporate sponsors.
The Colbert Super PAC will allow Colbert to raise an unlimited amount of money from corporations, unions and individuals. Colbert can spend the money on independent expenditures, like TV commercials, to support or oppose candidates in the 2012 elections.
Colbert has been making fun of the United State’s lax campaign funding rules on his show for the last couple of months.
Federal Election Commission chair Cynthia Bauerly said:
“Stephen Colbert is a funny man, but he asked a legitimate question and received a serious answer. The opinion adopted today does not give him everything he asked for, but it appropriately applies the press exemption consistent with past Commission and court precedent.”
Here’s a video of Colbert applying for his Colbert Super Pac.
[Source: Washington Post, SF Gate]