[cnn-photo-caption image= http://i.cdn.turner.com/cnn/2008/images/05/14/art.dean.gi.jpg caption="Howard Dean is the chairman of the Democratic National Committee."]WASHINGTON (CNN) - The Democratic Party has reached an unusual joint fundraising agreement with both its remaining presidential candidates, Barack Obama and Hillary Clinton.
The agreement, announced Wednesday, creates a new entity, the "Democratic White House Victory Fund" - a move which will allow both candidates to fundraise for the cash-strapped Democratic National Committee, and to help shoulder some of their primary and general election expenses. John McCain has already created his own Victory Fund with the Republican National Committee – but those funds are usually created after a nominee has been decided.
Obama and the DNC had come to an agreement several weeks ago.
“In signing this agreement, Senator Clinton and Senator Obama are demonstrating their commitment to unifying our party and ensuring that we have the resources needed to win the White House, no matter who the nominee is,” said DNC Chairman Howard Dean in a statement. The message is clear. Democrats are unified to put a Democrat back in the White House so we can get our economy back on track, bring our troops home and finally do something about our ailing health care system."