Sanford in and will use old campaign cash

Former governor Mark Sanford formally jumped into the 1st Congressional District race today, saying he would tap into some of the more than $1.2 million in old campaign account money he has at his disposal.

The cash gives Sanford a huge and early financial advantage in a race that could see 10 or more hopefuls, and will be dominated by the Charleston-area media market.

Sanford declined to identify himself as the early front-runner, other than to say he holds the early message for curbing spending in D.C.

“I’ve never seen myself as a front-runner in any race that I’ve run,” he said, adding that he’d go back to early stances of limited government.

“It’s a core belief and not a new found idea,” he said.

Sanford’s Federal Election Commission campaign account report still open from his time representing the 1st District from 1995-2001 projects him with around $122,000 cash on-hand. He could immediately use that money for a federal run.

Sanford also has more than $1,157,000 in his gubernatorial campaign account listed with the South Carolina Election Commission. But under state law, he could not use any of that money for a federal congressional bid unless he gets written permission from each donor.

“I suspect I’ll tap into some of that too,” he said.

The race is already showing signs of being expensive. Former state senator John Kuhn said earlier he is putting $250,000 of his own cash into his bid.