Posts tagged big money
Posts tagged big money
More than a quarter of the nearly $6 billion in contributions from identifiable sources in the last campaign cycle came from just 31,385 individuals, a number equal to one ten-thousandth of the U.S. population.
“In a blow against the Supreme Court’s Citizens United ruling, the second-largest city in the U.S. sent a strong, if symbolic, message against corporate personhood and unlimited corporate spending on political campaigns.
"Los Angeles voters overwhelmingly passed Proposition C, a resolution that instructed local and state officials to promote the overturning of Citizens United v. Federal Election Commission. With 100 percent of precincts reporting by 3:16 a.m. Wednesday, Prop C had won 76.6 percent of the vote, according to the LA City Clerk’s unofficial results.”
Dark money is already shaping the 2016 race as motivated megadonors handpick the candidates and the issues.
Cartoon of the day, via New York Daily News.
"Presidential and congressional candidates running in the 2012 election cycle, political parties and political action committees (PACs) received more than $7.1 billion and disbursed more than $7 billion in 2011-2012, according to campaign finance reports filed with the Federal Election Commission that cover activity from January 1, 2011 through December 31, 2012. Filings submitted to the Commission in this two-year period indicated that disbursements for independent expenditures and electioneering communications totaled nearly $1.3 billion."
Good news. A bipartisan coalition of lawmakers in Tennessee blocked an effort to give wealthy donors more power in the state:
"A push to raise some campaign contribution limits in Tennessee has likely died for the year. The bill received just 48 votes, needing 50 for passage.
"Ultimately, arguments from the minority party won the day. Democrats railed against raising the amount of money political parties could give individual candidates from the roughly $60,000 allowed currently to $150,000."
"The legislation also would have allowed insurance companies to make direct campaign donations to candidate. And it would have dropped the requirement that corporations disclose contributions, though their political giving would theoretically show up on a candidate’s disclosure form."
Fresh from Election Day 2012, House members and challengers are already raising big bucks. Sunlight Foundation:
"On the heels of the most expensive campaign in the nation’s history, members of the House and the candidates who want to replace them are already raking in cash for the 2014 mid-terms. In the first three months of 2013, they collected a total of $68 million, records just submitted to the Federal Election Commission show."