Outside spending in 2024 federal election tops $1 billion
From OpenSecrets:
The 2024 election is already smashing spending records. More than $1 billion has been spent by outside groups such as Super PACs, almost double the amount ($553 million) spent by such groups at this point in the 2020 election cycle. More than $585 million has gone into the presidential election alone. The largest spender by far has been Make America Great Again Inc. PAC, which is supporting former President Trump, followed by Americans For Prosperity Action, which is run by Charles Koch, and Future Forward PAC, the largest Democratic hybrid PAC.
Billionaires Timothy Mellon and Mike Bloomberg inject massive sums into 2024 super PACs
From CNBC:
Billionaire mega donors are dumping tens of millions of dollars into Super PACs on both sides of the presidential election. Businessman Timothy Mellon has made two separate donations of $50 million to Make America Great Again Inc., a Super PAC supporting former President Trump, in addition to spending millions of dollars on a Super PAC supporting RFK Jr.’s campaign. Mellon’s money represents more than 90% of the money raised by Make America Great Again Inc. in July, which totaled $54 million. On the Democratic side, Mike Bloomberg gave $20 million to FF PAC, which had supported President Biden’s campaign and is now supporting Vice President Harris. Bloomberg is also providing funds to down-ballot races, with a $10 million donation to support Democrats running for the House.
Harris and Trump Shield Their Big Campaign Fund-Raisers From the Public
From The New York Times:
Presidential campaigns often rely on so-called “bundlers” to raise significant amounts of money to support their efforts. These bundlers help to collect and raise contributions from other large donors, and those who can raise the most money for their candidate are often rewarded with perks ranging from VIP convention access to ambassadorships. In the past, campaigns have voluntarily disclosed the identities of their bundlers, but this year, neither the Harris nor Trump campaigns are revealing who they are. Advocates for campaign finance transparency have criticized this decision, as it leaves Americans with less knowledge of who is funding and building influence with the presidential campaigns.
A Placer County school board candidate received a $10,000 campaign donation. Was it legal?
From the Sacramento Bee:
A candidate for school board in Placer County, CA, received a donation for $10,000. Under California law, a candidate for state, county, or city office cannot receive an individual campaign donation of more than $5,500. Unfortunately, the law does not mention a cap for local offices like school boards, leaving open a loophole for school board candidates to receive uncapped donations. State lawmakers attempted to close the loophole in 2023, but the bill failed in committee despite bipartisan support. Notably, the state’s largest union of public school teachers (the California Teachers Association) opposed the cap.
George Santos pleads guilty, acknowledging lies and blaming ambition for conning his way to Congress
From the Associated Press:
Former Congressman George Santos, who was expelled from the House of Representatives, has pled guilty to wire fraud and aggravated identity theft. Santos stole the identities of 11 people to make donations to his campaign using stolen credit cards, and tricked donors into supporting a fake nonprofit that he used to make personal purchases, among other crimes. Santos faces a likely minimum of 6 years in prison and $570,000 in restitution and forfeiture.
