Self-funded candidates put more than $166 million into their own campaigns
From OpenSecrets:
It is a long-standing injustice that Congress has historically under-represented a very important group: millionaires. Luckily, a group of brave pioneers is working to correct this imbalance: this year, approximately 45 candidates have spent at least $1 million of their own money on their campaigns for House and Senate. In total, they’ve spent more than $166 million, and we’re still 5 months out from the actual election. Here’s hoping these candidates can finally build what Americans have always dreamed of: a Congress of, by, and for the rich and powerful.
Crypto super PACs get $25M boost
From POLITICO:
More crypto news! Because this never gets old. Ripple Labs, a major crypto firm, is giving another $25 million to various pro-crypto Super PACs, bringing their total given for the year up to $110 million. The PAC network is planning to boost pro-crypto candidates for Congress, particularly in the upcoming Montana and Ohio Senate elections. No word yet on if they plan to place any Super Bowl ads moving forward, because that worked out so well last time.
Who’s funding negative campaign mail? Legal loophole helps some groups avoid disclosure
From The Nevada Independent:
When independent groups can engage in unlimited campaign fundraising and spending, the least one might ask is that they disclose their funding. That way, voters could make an informed choice about who to listen to and who to support. Unfortunately, disclosure rules can be an easily-bypassed joke. In Nevada, voters have been subjected to a wave of attack ad mailings in a State Senate primary. The PAC funding the ads, North Valley PAC, was created on April 10th. Because of a loophole in campaign finance reporting laws, it won’t have to say where its money comes from until after the June primary. That’ll help voters make informed decisions, right?
Super PAC backing RFK Jr. got another $5M from GOP megadonor in April
From POLITICO:
American Values 2024, the super PAC backing RFK Jr.’s presidential bid, just received $5 million from Timothy Mellon, a GOP megadonor who has now given the PAC a total of $25 million. Mellon has given $15 million to Make America Great Again Inc., former President Donald Trump’s super PAC, and millions more to other conservative PACs. One might wonder why Mellon is spending millions of dollars backing two separate candidates who are ostensibly running against each other. You’d think that’s a pretty big waste of money. Maybe he’s just playing both sides, so that he always comes out on top.
FEC rejects proposal to weaken disclosure laws but agrees to further rulemaking
From OpenSecrets:
The FEC was considering a rules change that would allow donors to “opt out” of disclosure requirements and hide the fact that they’re giving campaign money. Currently, political committees have to disclose the information of donors who give more than $200. Opponents of transparency argue that disclosing the identity of donors can lead to harassment. If I was willing to give significant amounts of money to a candidate or PAC, I would simply have the self-respect to put my name behind my convictions.
