Political Notebook: Neb. Republican's Gift

[cal04]

Republican Pete Ricketts added $725,000 to his campaign account, coming in just below the amount that would trigger the "millionaire's amendment" and allow Democratic Sen. Ben Nelson to accept money from supporters above the set limits.

Ricketts, who recently stepped down from the board of directors at TD Ameritrade, has said he is worth $45 million to $50 million. He spent $4.75 million of his money to win the GOP primary in May and is expected to push the Senate race to the most costly in Nebraska history.

The millionaire's amendment refers to federal law that took effect in the 2003-04 election cycle and is meant to level the playing field in big-money races. Under the law, once a self-financed candidate's spending hits certain levels, a rival relying on fundraising can collect increasingly higher amounts from donors to catch up.

(snip)
Nelson's campaign director, Paul Johnson, said Ricketts' action "is an early indication that Mr. Ricketts' campaign is struggling to get traction and raise money."

http://news.yahoo.com/s/ap/20060628/ap_on_go_ca_st_pe/nebraska_millionaire_s_spending_3