J.D. Vance’s Funding Doesn’t Go as Far
Cleveland Plain Dealer: “Vance and his allies have spent about $30.6 million on ads. Ninety-two percent of that is coming from outside groups, nearly all of which is from Senate Leadership Fund PAC, which has close ties to Senate Minority Leader Mitch McConnell. About $2.4 million is coming directly from Vance’s campaign.”
“Even though Vance and his allies are spending almost three times as much as Ryan, they’re only getting about 20% more airtime. That’s largely because candidates, under federal law, get much better prices compared to outside PACs.”
Republicans Block Bill to Disclose Dark Money
“Senate Republicans on Thursday blocked legislation requiring disclosure of so-called ‘dark money’ in elections,” the HuffPost reports.
Washington Post: “Spending in election cycles by corporations and the ultrawealthy through so-called dark money groups has skyrocketed since the 2010 Supreme Court decision Citizens United v. FEC, which allowed incorporated entities and labor unions to spend unlimited amounts of money to promote or attack candidates.”
Biden to Plug Campaign Finance Bill
President Biden plans to plug a Senate bill that would require super PACs and so-called “dark money” groups to disclose donors who give $10,000 or more during an election cycle, the Washington Post reports.
Trump’s PAC Faces Scrutiny Amid Intensifying Probes
“Sitting on top of more than $115 million across several political committees, Donald Trump has positioned himself as a uniquely indomitable force in the GOP who would almost certainly have the resources to swamp his rivals if he launched another presidential campaign,” the AP reports.
“But that massive pile of money is also emerging as a potential vulnerability. His chief fundraising vehicle, Save America PAC, is under new legal scrutiny after the Justice Department issued a round of grand jury subpoenas that sought information about the political action committee’s fundraising practices.”
Trump Megadonor Spending Spree Is Ending
“Republicans aren’t seeing as many big checks from one of their most generous benefactors, creating a financial hole for the GOP just as Democrats get a fundraising windfall tied to abortion,” Bloomberg reports.
“Miriam Adelson along with her late husband Sheldon Adelson were the party’s biggest donors over the past decade. But her only major contribution in the current election cycle is the $5 million she donated in July to the Congressional Leadership Fund, a super PAC that backs House GOP candidates.”
Kathy Hochul Takes Donations from Cuomo Appointees
New York Times: “The fund-raising has occurred despite the longstanding executive order — reissued by Ms. Hochul on her first day in office — that prohibits such transactions in order to avoid even the appearance of rewarding donors with jobs in exchange for contributions.”
“Ms. Hochul’s campaign said it was appropriate to accept the contributions because they came from people appointed by her predecessor, Andrew Cuomo. The argument underscored a loophole in the ethics order that would seem to allow one governor to accept money from another governor’s board and commission appointees.”
“In some cases, Ms. Hochul received donations from people Mr. Cuomo had appointed and then gave them new appointments.”
Trump Runs Over Campaign Spending Laws
NPR: “Regulations from the Federal Election Commission and experts on finance law say that there are almost no restrictions on how Trump spends the PAC money while he is not a candidate for president. However, the money raised can’t be used for a potential 2024 campaign if Trump decides he’ll run again, experts say.”
“But Trump doesn’t exactly have a history of following FEC guidelines, and there hasn’t been much enforcement despite dozens of campaign finance complaints.”
“Since 2016, there have been upward of 40 complaints against the former president — the FEC hasn’t acted on any of them, including the case of Trump’s lawyer Michael Cohen paying off Stormy Daniels during the 2016 election. It’s bringing up questions on whether Trump could be held accountable for any potential violations in the future.”
$100,000 For a ‘Candlelight Dinner’ with Trump
“Donald Trump’s super PAC is hosting a candlelight dinner with the former president at one of his New Jersey golf courses next month,” Forbes reports.
“The price to attend: $100,000 per person.”
The Largest Political Donation In History
This story was mentioned earlier, but ProPublica has more:
“An elderly, ultra-secretive Chicago businessman has given the largest known donation to a political advocacy group in U.S. history — worth $1.6 billion — and the recipient is one of the prime architects of conservatives’ efforts to reshape the American judicial system, including the Supreme Court.”
“Through a series of opaque transactions over the past two years, Barre Seid, a 90-year-old manufacturing magnate, gave the massive sum to a nonprofit run by Leonard Leo, who co-chairs the conservative legal group the Federalist Society.”
Unusual $1.6 Billion Donation Bolsters Conservatives
“A new conservative nonprofit group scored a $1.6 billion windfall last year via a little-known donor — an extraordinary sum that could give Republicans and their causes a huge financial boost ahead of the midterms, and for years to come,” the New York Times reports.
“The source of the money was Barre Seid, an electronics manufacturing mogul, and the donation is among the largest — if not the largest — single contributions ever made to a politically focused nonprofit. The beneficiary is a new political group controlled by Leonard A. Leo, an activist who has used his connections to Republican donors and politicians to help engineer the conservative dominance of the Supreme Court and to finance battles over abortion rights, voting rules and climate change policy.”
“This windfall will help cement Mr. Leo’s status as a kingmaker in conservative big money politics. It could also give conservatives an advantage in a type of difficult-to-trace spending that shapes elections and political fights.”
Madison Cawthorn Lost Big Money In His Campaigns
A pair of unusual campaign finance reports this week reveal that since 2019, Rep. Madison Cawthorn (R-NC) “has personally invested a total of $817,000 into his campaign, while recovering only $261,000 of that amount,” the Daily Beast reports.
“That leaves him personally in the hole $556,000, more than three times the annual congressional salary of $174,000.”
Where Do Trump’s Donations Go?
Karl Rove: “So what can Mr. Trump use his existing cash stash for? Well, financially supporting other candidates, but he hasn’t shown much interest in that so far. Save America, the former president’s leadership PAC, has given $5,000 each—the maximum by law—to 60 House and 13 Senate candidates. This $365,000 is a pittance, and it’s impossible for him to use up Save America’s remaining $103.1 million this year simply with direct contributions. If Republicans were running candidates for every House and Senate seat this year and Mr. Trump gave each $5,000, that would amount to only $2.35 million.”
“One way to use more of this money is through independent expenditures on behalf of candidates, but Mr. Trump hasn’t devoted much cash to that either.”
The Attack on Mallory McMorrow Backfired
“The numbers are in and it’s official: The attack on Michigan state Sen. Mallory McMorrow (D) backfired,” Politico reports.
“The Michigan Republican state senator who falsely described McMorrow as a ‘groomer’ in an April fundraising email raised less than $300 in the days following the solicitation, according to campaign finance filings. McMorrow, on the other hand, raised more than $1 million.”
When Trump Declares He Loses Control of $103 Million
“As Donald Trump considers when to announce his candidacy for president in 2024, he faces a costly quandary,” Bloomberg reports.
“As head of the Save America political action committee, he controls $103 million, making him the Republican Party kingmaker. Once he declares a run — moving from kingmaker to possible king — federal law puts the money beyond his reach.”
“When he announces, he’s limited to taking just $5,000 of his leadership PAC money for his campaign committee, which would begin with a starting balance of zero.”
Two Billionaires Funded Most of Ted Cruz’s Campaign
A new CNN documentary traced the money trail between a small group of Texas billionaires and the state’s far-right political shift — and discovered how two billionaires gave about two-thirds of the Super PAC funding that backed Sen. Ted Cruz’s (R-TX) 2016 presidential campaign.
The GOP’s Grassroots Money Problem
“Democrats across the 10 most competitive Senate races are out-raising Republicans by more than $75 million among small-dollar donors — those giving less than $200,” Axios reports.
“Inflation, Trump-induced donor fatigue and other factors are impacting the GOP grassroots, prompting Republican candidates to rely more heavily on high-dollar donors.”
Related from CBS News: ActBlue processed more than half a billion dollars in three-month period.
Rick Santorum’s Campaigns Still Owe $1 Million
Former Sen. Rick Santorum (R-PA) once demanded “fiscal responsibility” as a 2012 presidential candidate, arguing that America needs a leader prepared to make “tough choices” on spending, Insider reports.
Ten years later, Santorum’s 2012 and 2016 presidential campaign committees both remain deep in debt, owing creditors a combined total of $1 million.
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