Rick Perry gets OK from FEC to create super PAC

Texas Gov. Rick Perry has been given the go-ahead to create a new political action committee or super PAC with the leftover funds from his failed presidential campaign.

The Federal Election Commission approved Perry's request today. Perry also won permission to place the unused presidential money in his gubernatorial campaign account, if he so chooses.

As of Feb. 29, Perry had about $675,000 left in his presidential account out of $19.9 million raised.

It is not uncommon for candidates for federal office to form new PACs with unused campaign money or to donate that cash to other candidates. Read More