Keen donor interest in down-ballot races this year has helped drive nearly $1 billion to super PACs.
Wertheimer's Political Money Report
August 15, 2016
A NOTE FROM FRED
 
In this unusual presidential election year, the system for regulating political money in federal elections has completely broken down and momentum is building for fixing the system. Clinton has proposed a comprehensive campaign finance reform package and publicly committed, if elected, to make this a top priority from her first days in office. Senate and House Democrats have also endorsed comprehensive reforms and are taking them into the 2016 congressional races as a viable campaign issue. The bottom line: this is the first time that national Democrats across the board have made a broad public commitment to repair the campaign finance system. Two key challenges now lie ahead for reform supporters. First, the American people will need to ensure that national Democrats meet the public commitments they have made to fix the campaign finance system. Second, citizens will need to persuade Republicans in Congress to support essential campaign finance reforms as significant numbers of congressional Republicans have done in past decades.
GOP big donors "fearful of Trump-fueled electoral rout" direct their money to down-ballot races. Some wealthy GOP donors like billionaire Paul Singer have been unwilling to donate to support Trump, but are "hoping a financial firewall will protect the party's congressional majorities" in November. Last week, 75 GOP officials and party veterans asked the RNC to shift its resources away from Trump to House and Senate candidates. "Keen donor interest in down-ballot races this year has helped drive nearly $1 billion to super PACs, " says the Washington Post. Read more

FEC Commissioner Ann Ravel proposes ban on political contributions by domestic subsidiaries of foreign companies. The Intercept had reported that a California subsidairy of a foreign corporation owned by two Chinese citizens had donated $1.3 million to the pro-Bush super PAC. Read more

Trump adds more big donors to his economic council, says POLITICO. Last week, Trump added nine new people as his economic advisers. More than half of them have either already given or have pledged to raise money for him or the Party. Among the additions is billionaire Diane Hendricks who donated $5 million to the pro-Scott Walker super PAC last year. Read more

Karl Rove network launches ads through other non-profit dark money group. The One Nation group has spent about $20 million so far this cycle on ads in support of Republican Senate candidates, says Think Progress. Meanwhile, Karl Rove's other groups have remained virtually silent. "When it wasn't clear whether Crossroads GPS would be approved for an IRS exemption, Steven Law and several others who run Crossroads GPS took over this group and renamed in One Nation," said Robert Maguire of Center for Responsive Politics. Read more
 
2016 FACT OF THE DAY
$49.6 million - The amount Clinton has raised from nearly 500 bundlers. At this point in the 2012 election, Obama had raised $142 million from over 630 bundlers, according to the Center for Responsive Politics. Read more

IN THE STATES
FL: 127,000 petitions in Miami-Dade County that would require a referendum on new campaign finance laws are still sitting uncounted by the county government more than two weeks after being delivered by activists. Mayoral candidate Raquel Regalado has blamed current County Mayor Carlos Gimenez on the delay. Read more

CA: Federal prosecutors recommended that the father of Rep. Ami Bera should serve a year in prison for his role in a campaign donation scheme. Read more

CA: LA City Councilman Felipe Fuentes is resigning his position to become a lobbyist in Sacramento. Read more


By: Fred Wertheimer (@FredWertheimer) & Kathryn Beard (@KathrynBeard)
 
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