WASHINGTON — Sen. Tim Scott of South Carolina has a nest egg that would allow him to seek the Republican nomination.
Scott converted his Senate campaign, which had $21.9 million in the bank at the end of March, to a presidential exploratory committee, a filing with the Federal Election Commission shows. In a video released Wednesday to coincide with the anniversary of the start of the Civil War, Scott announced he was considering a run.
The move allows Scott to use leftover funds from his Senate campaign to pay for polling, consultants, travel and other expenses as he gauges his strength as a candidate and how he stacks up against potential opponents. He can’t use the funds to campaign for president until he formally declares he’s seeking the office, but may continue raising money for a run.
