Restore Our Future has hit a fundraising milestone: The super PAC supporting Republican presidential candidate Mitt Romney has clocked $100 million in contributions since it was organized just two years ago this month.
That puts the pro-Romney super PAC far ahead of the rest of the PAC pack when it comes to fundraising, Sunlight's Follow the Unlimited Money tracker shows, though just how wide a lead it enjoys won't be possible to determine until the rest of the campaign committees file their latest reports with the Federal Election Commission. Committees that report monthly to the FEC -- a group ...
Continue readingDemocratic super PACs come into their own
Democratic super PACs, which earlier this year lagged far behind their Republican counterparts, passed a milestone in August: they took more in contributions into their coffers than GOP super PACs: $28 million versus $22 million. Filings covering September are due this Saturday.
It may be more of a photo-finish than it first appears: a portion of the Democratic groups' take involve PAC-to-PAC transfers, which are difficult to extricate from the totals due to way reports are filed with the Federal Election Commission. But quarterly filings that landed Monday leave little doubt that the Democratic super PACs, including Priorities USA and ...
Continue readingAmericans for Tax Reform drops $2 million in one day
Dark money group Americans for Tax Reform just dropped close to $2 million to influence competitive House races.
Victories for the 501(c)4 non-profit lobbying organization, founded by conservative lobbyist Grover Norquist in 1985, would undoubtedly complicate efforts to reach a deal to avert the so-called "fiscal cliff" because the group "opposes all tax increases as a matter of principle." ATR's central tenet -- the Taxpayer Protection Pledge, which requires lawmakers to "solemnly bind themselves to oppose any and all tax increases," enjoys the backing most Republicans in Congress and all but one of this year's GOP presidential ...
Continue readingPolitical Ad Sleuth debuts: Track the money behind the campaign ads
Above Las Vegas last week, the air invisibly crackled with attacks and counter-attacks by candidates for a House and a Senate seat -- not to mention President Obama, his rival Mitt Romney and their backers. In Denver, there was a clash of political fronts: Outside groups like Planned Parenthood and Crossroads GPS competed for airtime with each other, as well as the candidates they are supporting.
In Grand Rapids, Mich., ads in a high-priced contest over a bridge to Canada dominated the TV airwaves, while in Sacramento, it was ballot initiatives and House races vying for voters' attention. Milwaukee viewers were ...
Continue readingTarget Nevada: Silver State drawing lots of green from campaigns
Nevada is used to high rollers, but the state has special reason to be blase about this set.
President Obama is in the state, prepping for his Wednesday debate with his Republican rival, Mitt Romney, after headlining a Sunday night rally in Las Vegas. Romney's wife Ann arrives in Las Vegas Monday for a rally in nearby Henderson and then an evening fundraiser at the home of Republican mega-donor Sheldon Adelson and his wife, Miriam, no slouch herself in the political underwriting department. And first lady Michelle Obama arrives Wednesday for a campaign stop in Reno.
Residents of the ...
Continue readingA half-billion in outside influence: What else could the money buy?
A little less than six weeks shy of Election Day, we've crossed another campaign spending Rubicon: Sunlight's Follow the Unlimited Money tracker has now recorded more than $500 million in a spending on the 2012 campaign by outside interest groups.
For those of you who have a hard time wrapping your heads around all those zeros, Sunlight's Jake Harper has calculated that it's enough to cover 155 football fields with $100 bills.
An indicator of just how rapidly folks who can write big checks are doing so: Our tracker showed a $28 million jump in 48 ...
Continue readingGross Political Product: Outside campaign spending tops 2010 total
In a campaign that's supposed to be about an ailing economy, there's just one financial indicator that remains consistently robust: Call it the Gross Political Product.
The latest signal of just how profitable a business politics remains is available on Sunlight's Follow the Unlimited Money, which shows outside spending at nearly $465 million as of Sunday evening. That's more than the total for the entire 2010 campaign, the first that took place following the Supreme Court's landmark Citizens United decision, which allowed corporations and unions to give in unlimited amounts.
This cycle's outside spending ...
Continue readingFederal candidates depend on financial sector more than any other for campaign money
Candidates running for federal office are two-thirds more dependent on donors from the finance, insurance and real estate (FIRE) sector for campaign contributions than any other sector. Through the second quarter of 2012, federal candidates have relied on the sector for 15.2% of their itemized (over $200 contributions), solidly ahead of their dependence on the next closest competitors -- health interests (at 8.9%) and lawyers and lobbyists (at 8.8%). This is not a new phenomenon. In each of the last seven election cycles, federal candidates have depended on the finance sector for between 15% and 17% of their contributions at the same point in the cycle. But with tax reform being high on the agenda no matter who is elected and the finance sector eager to continue to shape the implementation of Wall Street reform, the contributions are as important as ever. What is different this cycle is that FIRE contributions are solidly supporting Republicans for the first time since 2000. Through the second quarter of 2012, 54.8% of finance industry contributions to federal candidates went to Republicans, up dramatically from 44.3% in 2010 (even after the passage of Dodd-Frank) and 42.2% in 2008. This shift has taken place in the House, the Senate, and as most frequently reported, the presidential race. In the battle to be president, our calculations show that 58.6% of all financial sector itemized campaign donations going to Republican candidates, up from 38.6% in 2008. To be clear, this total only includes money directly to candidates. If we looked at super PACs, finance money would be titled even more Republican. Through the second quarter, we calculate that Mitt Romney’s Restore Our Future super PAC depended on the finance sector for 43% of its money, and 75% of the finance money was coming directly from the securities and investment sub-sector (aka Wall Street). No other sector of the economy even came close in helping to “Restore Our Future.”
Continue readingCorporate funded nonprofit works at nexus of politics and entertainment
A corporate-funded nonprofit organization that operates out of a Washington, DC lobbying firm's offices and describes itself as working in the "nexus between the entertainment community and Washington" will be helping to host a "high-profile evening event" on Tuesday at the Democratic convention in Charlotte.
The Artists and Athletes Alliance is one of the cosponsors of an "In the Know VIP session" organized by The Hill, a newspaper that covers Congress. The session will feature political gossip columnist Judy Kurtz.
Artists and Athletes specializes in bringing athletes and entertainers together with politicians, government executives and the media. Founded in ...
Continue readingElection law? What election law?
A Republican lawyer wonders where the FEC enforcers are and a donor sneaks a reporter into a Karl Rove meeting for financiers. Are even the bankrollers getting fed up with the political big money game?
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