Super PACs alter the dynamics of fundraising
By T.W. Farnam,
WashPost
Sunday, January 8, 5:36 PM
Well-established candidates have always had the edge in fundraising, but under the new rules governing money in politics, it looks as if the rich are just getting richer.
The vast majority of the $14 million in spending from “super PACs,” a new type of political group, has been spent on behalf of three candidates: Mitt Romney, Rick Perry and Jon Huntsman Jr., federal records show. Those are the same three candidates already most reliant on money from large donors.
“It’s just proven to be a vehicle for getting around contribution limits,” said Michael Malbin, a scholar at the Campaign Finance Institute, which advocates for regulations encouraging small donors. “It’s made for people who’ve already maxed out.”
Two years after the Supreme Court decided the landmark Citizens United v. Federal Election Commission case, it is becoming clear that the super PACs created under the new rules will act as a counterweight to a rise in online grass-roots fundraising. The online efforts, which tend to attract small donations, have been driving unconventional contenders in the GOP field, including Rep. Ron Paul (Tex.) and Rep. Michele Bachmann (Minn.). (Bachmann dropped out of the race last week after a sixth-place finish in Iowa.)
(More here.)
WashPost
Sunday, January 8, 5:36 PM
Well-established candidates have always had the edge in fundraising, but under the new rules governing money in politics, it looks as if the rich are just getting richer.
The vast majority of the $14 million in spending from “super PACs,” a new type of political group, has been spent on behalf of three candidates: Mitt Romney, Rick Perry and Jon Huntsman Jr., federal records show. Those are the same three candidates already most reliant on money from large donors.
“It’s just proven to be a vehicle for getting around contribution limits,” said Michael Malbin, a scholar at the Campaign Finance Institute, which advocates for regulations encouraging small donors. “It’s made for people who’ve already maxed out.”
Two years after the Supreme Court decided the landmark Citizens United v. Federal Election Commission case, it is becoming clear that the super PACs created under the new rules will act as a counterweight to a rise in online grass-roots fundraising. The online efforts, which tend to attract small donations, have been driving unconventional contenders in the GOP field, including Rep. Ron Paul (Tex.) and Rep. Michele Bachmann (Minn.). (Bachmann dropped out of the race last week after a sixth-place finish in Iowa.)
(More here.)
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