Kamala Harris gave Wall Street this clue about who she will pick for Vice President
Kamala Harris is in a sprint towards Election Day.
Part of the rushed process is choosing a running mate.
And Kamala Harris gave Wall Street this clue about who she will pick for Vice President.
Harris hints her pick will be a governor
According to POLITICO, Vice President Kamala Harris is set to make her running selection official by August 6.
“Vice President Kamala Harris is expected to announce her running mate by Tuesday, when she will hold her first rally with her pick in Philadelphia,” POLITICO exclusively reported.
One breadcrumb her campaign dropped about who her pick may end up being is Wall Street donors are under the impression they must get their donations into the campaign by August 4 to avoid potential conflict with a Security and Exchange Commission (SEC) rule that bans pay for play schemes involving state elected officials.
Axios reports Wall Street fat cats think this means Harris has settled on a governor as her running mate.
“The Harris campaign is pressing Wall Street donors to cut their checks as soon as possible, citing a financial rule that bars contributions to tickets featuring a sitting governor, according to people familiar with the matter,” Axios reports.
That would seem to eliminate U.S. Senator Mark Kelly (D-AZ) from consideration.
And it would leave three Democrat governors; Josh Shapiro of Pennsylvania, Andy Beshear of Kentucky, and Minnesota’s Tim Walz as the three Vice Presidential finalists.
Harris’ campaign denies she’s made any final decisions on a running mate.
“Any reporting on developments or updates in Vice President Harris’ running mate search are premature and speculative,” a campaign spokesman told reporters.
What the SEC rule says
SEC Rule 206(4)-5 won’t allow investment advisors to “solicit or coordinate contributions from others to a political official, candidate or political party in a state or locality where they offer or plan to offer advisory services.”
The rule specifically doesn’t ban all political contributions as the language leaves open the possibility of investment advisors donating to Super PACs.
“It’s important to note that the rule doesn’t ban political contributions made by advisors entirely, nor does it specify a limit on the dollar amount of contributions an advisor or covered associates can make. Instead, the first provision of the rule imposes a time limit on when an advisory can engage in business with a government client after making political contributions,” the SEC’s website reads.
But in 2016, Goldman Sachs put rules in place preventing investment advisors from donating to political campaigns after former President Donald Trump picked Indiana Governor Mike Pence as his running mate.
Many expect that since Harris is holding the first event with her running mate in Philadelphia, that means Shapiro is the pick.
There are all sorts of tea leaves to read in politics.
But campaigns – and especially campaign finance – are governed by strict rules that sometimes force candidates to tip their hands.
