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A NOTE FROM FRED
In the 2016 election, super PACs have already raised almost a billion dollars for use in presidential and congressional races and are on track to far exceed the amount raised by super PACs in the 2012 election. Forty-nine percent of the $936 million came from just 100 donors, according to Open Secrets. Ordinary Americans look at the role of super PACs in our elections and they see Washington rigged to benefit the wealthiest people in the country. Super PACs are a byproduct of the Supreme Court’s decision in Citizens United that struck down the ban on corporate independent expenditures in federal elections. The Supreme Court majority either did not know or did not care about the massive flow of huge, influence-buying contributions this decision would unleash on our political system. There are ways however to challenge the existence of super PACs. A new Supreme Court majority could reverse lower court decisions that struck down the $5,000 per year limit on contributions to independent spending federal PACs. This would for all practical purposes shut down super PACs. As well, the Stop Super PAC-Candidate Coordination Act introduced by Rep. Price and Senator Leahy would shut down the super PACs that only support one candidate and were used to support most 2016 presidential candidates.
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"GOP's moneyed class finds its place in new Trump world," says the New York Times. Lobbyists and donors mingled at many parties around Cleveland this week. "While some of the party's elite donors have shunned Mr. Trump's coronation this week, they are still paying for it." A top lobbyist noted that while Trump is talking about changing Washington and the lobbying world, "The political and influence class is going on as before." Read more
Trump campaign gives its blessing to super PACs. POLITICO said that the Trump campaign signaled at the convention that it has dropped its opposition to the major pro-Trump PACs. At a meeting of major donors organized by Rebuilding America PAC, a slideshow featured a quote from Mike Pence saying "Supporting Rebuild America Now is one of the best ways to stop Hillary Clinton and elect Donald Trump." Pence's staff said he was considering attending future fundraising events for the group. Read more
"Voters have a right to know who is paying for a political campaign before they go to the polls," said FEC Commissioner Ann Ravel in a LA Times op-ed. Ravel says that states can take the lead in advocating for stronger campaign finance laws. "Curbing dark money will someday get a national solution. In the meantime, local and state measures to increase transparency can make an impact." Read more
"On campaign finance, Republicans and Democrats could not be farther apart," says the Huffington Post. The Republican Party platform introduced Monday in Cleveland calls for rolling back all contribution limits, less disclosure and the repeal of McCain-Feingold limits on soft money. Meanwhile, the Democratic platform calls for a constitutional amendment to overturn Citizens United and Buckley v Valeo and endorses creating a public financing system for federal elections and increased disclosure for outside groups. Read more
Clinton campaign "rolling out the red carpet" for donors at the Philadelphia convention. Individuals that have raised more than $100,000 are being treated to an exclusive week of events, including receptions, briefings with campaign staffers and an exclusive party with Bill Clinton. Read more
Trump's children begin fundraising for their dad. Donald Trump Jr. is headlining his first solo fundraiser next week in Texas. "For Republican donors who have little positive to say about Trump, the children are a safe topic" said AP. A top Republican donor said he "can't argue that the kids are phenomenal." Read more
What will happen to Pence's campaign cash? The latest campaign finance data shows that Gov. Mike Pence has more than $7 million in his gubernatorial campaign bank account. He cannot transfer it directly to the Trump campaign, but he is legally allowed to transfer it to a super PAC. He could also just keep the money in his state account. Read more
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2016 FACT OF THE DAY
Trump and the RNC raised $52 million in June, but that is still less than the $68 million Clinton and the DNC collected in June. Read more
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WI: Koch backed groups have pulled more than $2 million in ad buys they had bought for Sen. Ron Johnson. Read more
MO: Missouri is one of the few states that has no limits on campaign contributions. So far in the gubernatorial primary, three out of the four Republican candidates have received more than $1 million from an individual or family. Read more
MD: The husband of Amie Hoeber who is currently running for Congress in Maryland has donated more than $2 million to a pro-Hoeber super PAC. Read more
CA: The state's top political watchdog is introducing a proposal to crack down on lobbyists by giving state regulators the power to require suspected lobbyists to reveal if they are being paid to influence government decisions. Read more
By: Fred Wertheimer (@FredWertheimer) & Kathryn Beard (@KathrynBeard)
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