Political Money Report 12/8/16 - Trump isn't planning on "draining the swamp," Bob Dole lobbies Trump & big donors open checkbooks for inauguration

Trump has no interest in taking the steps necessary to “Drain the Swamp”

DECEMBER 8, 2016

A NOTE FROM FRED

It turns out that Trump has some very strange ideas of what his campaign mantra of “Draining the Swamp” meant. For example, he has proposed no reforms of the campaign finance system, which during the 2016 election was flooded with influence-buying money. And he appears ready to continue owning his business enterprises as president, which will result in enumerable conflicts of interest and appearance problems that the presidency is being used for personal financial gain. He is also rewarding some of his biggest political money backers with cabinet positions and agency jobs. In short, Trump has shown no real interest in taking the steps necessary to “Drain the Swamp". Instead he is taking the “rigged system” in Washington, which he continually attacked in his campaign, and is in the process of “rigging” it to a much greater extent at the expense of the American people.

"Trump is said to intend to keep a stake in his business," says the New York Times. Trump is considering turning over the business operations of his real estate company to his two sons, but he "intends to keep a stake in the business and resist calls to divest." No plans have been completed and Trump said he would reveal more of his plans on December 15. Read more

Bob Dole lobbied Trump's team on Taiwan for months before Trump's phone call. Fred told POLITICO that, “It does seem very strange that Trump is ignoring the State Department while apparently allowing Bob Dole, a lobbyist for Taiwan, to make arrangements for him in what appears to be a change in U.S. policy dealing with Taiwan." The revelation "contrasts with the transition’s ban on lobbyists and Trump’s campaign pledge to forbid his officials from lobbying for foreign governments and outlaw foreign lobbyists’ donating to American candidates," says POLITICO. Read more

Who you gonna call? Billionaires and millionaires. Trump has asked 25 friends and supporters to lead his inaugural committee and to raise upwards of $70 million for the event. Leading the committee is Thomas Barrack Jr who raised $32 million to support Trump's campaign. Inaugural fundraising packages range from $25,000 to $1 million, says the Washington Post. Read more

A second foreign government announces party at Trump hotel. The Azerbaijani embassy is co-hosting a Hanukkah party at Trump’s DC hotel later this month, says POLITICO. Trump is listed as “director, chairman and president” of a real estate deal in Baku, Azerbaijan in which he reportedly earned $2.5 million. Read more

House GOP PAC sets new fundraising record. The Congressional Leadership Fund raised over $50 million during the 2016 election, more than four times its previous fundraising high. “Our donors were excited to give to us because they knew this was going to help Paul Ryan,” said the PAC's president. Read more

A new study from the Campaign Finance Institute looks at the impact of democracy vouchers. The study found that voucher systems would reduce the importance of PAC contributions and increase the importance of small donors. "Any voucher or public financing system will reshape the role of political parties and interest groups, but the precise effects will depend upon the mix of incentives in any given law." Read more

QUOTE OF THE DAY

"They said Never Trump, now they’re Only Trump," Trump said at a fundraiser Wednesday about a former opponent becoming a $10 million donor. Read more from POLITICO.

IN THE STATES

CA: San Francisco City Council is considering a measure to prohibit developers with pending projects from contributing to the campaigns of mayor or supervisor and to require elected officials to disclose when they solicit contributions greater than $10,000 for ballot-measures. Read more

OR: The Portland City Council voted to approve a new public financing system for city candidates who agree to limit fundraising and spending. A final vote is expected next week. Read more

WA: Seattle voters will soon receive democracy vouchers in the mail which will allow them to give four $25 vouchers to local candidates. Read more

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

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