If war is politics by other means, so is litigation. While there will be plenty of rhetoric today about President Obama's health care law on the second anniversary of its signing -- including a new op-ed by Republican presidential candidate Mitt Romney, who was for the health care reform in Massachusetts before he was against it nationally -- the big battle begins Monday, when the Supreme Court opens an unusual three days of argument over the constitutionality of the Patient Protection and Affordable Care Act.
In many respects, the mega-case -- a compilation of six separate cases that have been wending through ...
Continue readingBanking money fuels senators who want to slow down Volcker
The six senators who introduced legislation Thursday to slow down implementation of the "Volcker rule," designed to prohibit banks from profiting from trading on their own accounts, are the recipients of ample amounts of campaign cash from the financial industry.
Three Democrats and three Republicans are cosponsoring the effort to push back the effective date of a rule that has provoked bitter complaints from the banking industry. The Dodd-Frank law mandated that it go into effect July 21, the second anniversary of the financial regulatory overhaul. More than 17,000 comments have flooded into federal financial agencies. The proposed legislation ...
Continue readingFEC: Perry can use some presidential funds to create super PAC
The Federal Election Commission green-lighted Texas Gov. Rick Perry’s request to turn the funds he collected for his presidential campaign to other political uses -- just not all the funds.
After Perry dropped out of the race for the GOP nomination in January, his presidential campaign asked the FEC whether it could use its leftover funds to create a traditional political action committee or a super PAC -- either of which would enable the Texas governor to support other politicians, a traditional way of building goodwill for candidates with national aspirations.
All the commissioners present at the open meeting agreed that ...
Continue readingOn IPO bill, Democratic senators nibble on the hand that feeds them
A bill backed by President Obama and largely drafted by some of his Silicon Valley donors is causing an embarrassing rift in his party's ranks and creating an awkward situation as Democratic leaders in the Senate try to make last-minute changes today before sending it to the White House.
Proponents of the bill say it will drive capital to startups by reducing the barriers to going public. Opponents say it invites potential fraud and reduces transparency for most business seeking an IPO—not just small ones.
On Wednesday, one day after the Democrats failed to pass their own version ...
Continue readingNaming names: How super PAC ads might look if DISCLOSE were enacted
If this hasn't happened yet to you, it probably will in this year of record-breaking spending by outside interest groups: You are watching TV or perusing the Internet when you are confronted by one of those ads telling you that your prospective public servant is a disgusting human being and completely incompetent. Worst of all, the ads are brought to you by a committee or organization whose vague name gives no clue as to its true identity. Then you ask, "Who is doing this to me? "
Sunlight is trying to give those obnoxious ads a transparency makeover! The DISCLOSE ...
Continue readingWhy DeMint’s donation to a super PAC could give his party heartburn
Super PACs have given GOP megadonors new avenues to make campaign contributions at a faster clip than ever, but in at least one quarter of the party establishment, they may be causing some heartburn this week.
Sen. Jim DeMint's decision to funnel $500,000 to the Club for Growth, disclosed in campaign finance reports filed with the Federal Election Commission this week, represents a deliberate snub of the National Republican Senatorial Committee and an indication of the potential for super PACs to erode the power of the established political parties.
"Senator DeMint donated money to the Club for Growth ...
Continue readingAdelson gives Gingrich a lifeline
In February, casino magnate and pro-Israel advocate Sheldon Adelson, along with his wife, Miriam, bet $5 million more on Newt Gingrich's flagging presidential bid by contributing to his super PAC, Winning our Future. This makes the couple the source of five out of six dollars raised by the super PAC since it launched late last year. Their daughter, Shelley, contributed another $500,000.
Gingrich has not been nearly as lucky with fundraising the traditional way. Paperwork filed Tuesday with the Federal Election Commission suggests that Newt 2012 is under water. Gingrich's campaign reported had $1.5 million in ...
Continue readingWho’s the web savviest presidential candidate of all?
Running for president requires web presence. Facebook, Twitter, web videos and websites that take online donations are ubiquitous among this year's presidential contenders. Yet, in an ever-more sophisticated technical world, the basics are not enough, and each candidate is trying some unique approaches to mine the Internet for donations -- a key to President Obama's fundraising success in 2008.
As the GOP race moves today into the president's home state, Sunlight has taken a look at what the major contenders are doing on the web:
Mitt Romney
Mitt Romney, hoping that a commanding win in today's Illinois ...
Continue readingFight to oust Hatch fuels a $1 million outside money blitz
With Sen. Orrin Hatch appearing to pass a first crucial political test on Thursday night when his supporters swelled attendance at GOP caucus meetings in his state to record numbers, the inundation of outside money in the Utah Senate race may only pick up steam. Super PACs have played a bigger role in the multi-stage contest that will decide the 36-year Senate veteran's fate than any other 2012 congressional contest so far. And that's not even counting the money spent by a nonprofit group spending hundreds of thousands of dollars supporting Senator Hatch.
At least six outside interest ...
Continue readingOn patent law, Mavs owner Mark Cuban knows the score
When two popular Internet utilities get in a high-priced legal fight and a famously outspoken NBA owner jumps in the middle, it's hard not to keep your eye on the roundball -- especially on the day March Madness gets underway.
After Yahoo sued Facebook for patent violations earlier this week, Dallas Mavericks boss Mark Cuban took aim at Yahoo and the nation's patent law with a satirical blog post that got picked up by the Huffington Post and is generating a lot of buzz on the web. The j'accuse by Cuban (full disclosure: he's a sometime Sunlight ...
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