Gingrich Keeps His Toes in '08 Waters With Tax-Exempt Group

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June 26, 2007 1:07 PM

A $2 million fund bankrolled by a handful of wealthy donors is helping former Republican House Speaker Newt Gingrich keep his name alive in key electoral states, a strategy that experts say bolsters his future as presidential candidate.

"It keeps him visible. He can pop up in state after state, push his issues and keep the threat alive," says Kent Cooper, founder of PoliticalMoneyLine.com, referring to Gingrich's fund, which has paid out hundreds of thousands of dollars to fly the ex-lawmaker around the country, and pay for staff, consultants and events to promote Gingrich's agenda in Iowa and other presidential election battlegrounds.

Gingrich's group, American Solutions for Winning the Future, has raised $2.3 million since it was created last October, according to reports filed with the Internal Revenue Service.

Most of the money has come from two wealthy benefactors -- Las Vegas casino magnate Sheldon Adelson and North Carolina real estate developer Fred Godley -- who have each contributed $1 million. 

The group, formed under the "527" section of the tax code, can collect and spend unlimited amounts tax-free.

The group's expenses include $226,736 on air charters, $17,500 to the Republican Party of Iowa Building Fund for event space and $5,000 on a political consultant in Iowa.

At an event last Thursday in Denver, Gingrich told the audience that his decision to run was dependent on whether leading GOP candidates adopt his agenda for overhauling the government.

"If, in my own party, a Giuliani or a Romney or a Fred Thompson takes up these ideas...we probably won't run," said Gingrich, according to The Denver Post.

Rick Tyler, a Gingrich spokesperson, denied the group's activities were related to a prospective Gingrich presidential bid.

"He is not using American Solutions to test the waters," says Tyler. "Newt is just doing what he's always done, which is to raise issues and challenges that he believes the country has to face."

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