In the three years since the Supreme Court's Jan. 21, 2010 ruling in Citizens United, the super PACs that decision helped to spawn have largely been seen as advertising machines. But an anniversary-eve analysis by the Sunlight Foundation show that they have created a class of super consultants.
Continue readingStealthy Wealthy: Donald Sussman, Rep. Pingree make strange bedfellows
In the five or so years since hedge fund manager Donald Sussman and Rep. Chellie Pingree, D-Maine, have known each other, the investment tycoon has made his mark in her state, becoming its top political donor in 2012 and a major backer to Democratic super PACs. He's also found ways to bankroll her campaign, while buying a controlling interest in the local papers that cover her district.
Sussman, the billionaire manager of boutique hedge funds which manage about $8 billion in assets, married Pingree in 2011. She's the former president of campaign finance watchdog Common Cause. In his ...
Continue readingEmerson was in formal talks with electric co-op days after reelection
On Nov. 19, nine business days after she won reelection with 72 percent of the vote, Rep. Jo Ann Emerson, R-Mo., began final negotiations for a new job with the National Rural Electric Cooperative Association, official documents show.
According to ethics rules set in place meant to avoid conflict of interest, Members of Congress are required to file disclosures with the House Ethics Committee and the Senate Office of Public Records within three business days after they begin to negotiate for a future job while they are still in Congress. However, the definition of "negotiation" is left ambiguous and leaves ...
More than two-thirds of outside spending backed losing candidates
Republican-leaning outside groups got trounced in Tuesday's election results, with the biggest spenders getting little return for their investment. Labor unions had a much better track record, with some directing 75 percent of their money--or more--to winning causes.
Overall, of the 1.07 billion spent on the general elections by some 629 outside groups, just 32 percent yielded the desired results, an analysis based on the results and independent expenditure reports filed with the Federal Election Committees shows. We looked at candidates that groups supported and opposed to determine their desired candidates in specific races, and calculated what percentage ...
Continue readingCorporate, union and nonprofit giving to super PACs tops $167 million
Approximately one-third of the money that super PACs have collected so far in the 2012 campaign come from organizations such as corporations, labor unions and other political committees.
Continue readingRepublicans in tight House races on top in the money game
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Republicans vying for House seats have the money edge in tossup races as the campaign enters its home stretch. The latest campaign finance reports filed with the Federal Election Commission show that GOP candidates have at least $5.65 million more than the Democrats in 23 tossup races as identified by the nonpartisan Cook Political Report. Republicans in the group had about $17.64 million cash on hand, compared to the Democrats' $12 million.
The report, which covers the third ...
Media spending tops $100 million in 10 key Senate races
Voters in 10 states with competitive Senate races have been inundated with more than $106 million in campaign propaganda, an analysis of independent expenditure reports and campaign expenditure records from the Federal Election Commission shows.
The total represents a combination of ad spending by outside groups and candidates' combined, and is likely a considerable understatement as candidate campaign committees' third-quarter filings have yet to be made public by the FEC.
But the spending we know about so far underscores the stakes involved as the two parties battle for control of the Senate, where Democrats currently hold a six-vote edge. Of ...
Continue readingOutside groups spending millions on state level elections, ballot initiatives
A six year battle between the state of Michigan and a local billionaire will come to a head this November, when voters decide whether to build the first public bridge between Detroit and Windsor, Canada. The ballot initiative will be voted on despite an agreement Michigan Gov. Richard Snyder, a Republican, reached with the Canadian government earlier this year which, Snyder says, can't be overturned by the referendum.
The billionaire, Manuel Maroun, has spent at least $2.19 million bankrolling a nonprofit organization, The People Should Decide, via his company DIBC Holdings. Over the past two years, the ...
Arizona primaries: Mystery super PAC helps Quayle in redistricting matchup
Freshman Rep. Ben Quayle, R-Ariz., is getting help from a mysterious super PAC whose treasurer hails from the other side of the country.
Continue readingSuper PAC’s fundraising losing momentum, latest reports show
Closing in on the upcoming party conventions, super PACs appear to have lost some of their steam in attracting the big bucks. The big guns of political ad spending took in $30 million during July,reports filed this week with the Federal Election Commission show. That's $25 million less than the previous month,. In all, super PACs have raised $343 million since Jan.1, 2011, the beginning of this campaign cycle.
The top donors include names now familiar as repeat super PAC underwriters, along with a few newbies. Among the eight donors who write seven-figure checks last month are three corporate donors and one left leaning nonprofit.
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