FEC opens door to more convention cash

The Federal Election Commission is giving political parties new flexibility to pay for their presidential nominating conventions.

The commission ruled 4-2 on Thursday that the Republican and Democratic national committees may establish separate committees to cover convention costs. Watchdog groups fought the change, which allows donors to double their $32,400 annual contribution limits to national parties so long as the new funds cover convention expenses.

The RNC and DNC released a joint statement describing the ruling as a modest step. They argue it is necessary to compensate for a new law that blocks conventions from receiving taxpayer funds.

The parties have struggled to raise the tens of millions of dollars needed for the quadrennial events.

Republicans will host their 2016 convention in Cleveland, while Democrats haven't yet selected a site.