Big Donors are Making Big Investments in the Midterm Election Cycle
As the midterm elections quickly approach, donors are stepping up their political spending.
Billionaire casino owner Sheldon Adelson and his wife, Miriam have dropped $55 million in total support of the GOP, $25 million of which was given to the Senate Leadership Fund. $30 million was also donated by the Adelsons in May to House Speaker Paul Ryan’s super PAC, the Congressional Leadership Fund.
July was a big month for the Republican National Committee (RNC,) which raised $14+ million, according to the Federal Election Commission filings.
However, not everyone is happy about how the GOP campaign is spending its funding. Two former top National Republican Congressional Committee (NRCC) officials are disappointed that the NRCC is waiting until September to go big with campaigning efforts.
“It’s a dereliction of duty for a congressional committee to not be on air in August,” said one of the former NRCC officials to The Hill. “Republicans are in real danger of losing the majority, and it seems that the NRCC is asleep at the switch.”
The biggest struggle for Republicans according to House Speaker Ryan is selling voters on the party’s recent victories like the tax plan.
The libertarian-leaning Koch network, affiliated with billionaire industrialist Charles Koch who did not vote for Trump for president in 2016, has been feuding with the RNC.
“Koch and top network officials announced last month that Republicans should no longer take their financial support for granted unless they support free trade and oppose bloated government spending. Koch did not support Trump for president in 2016,” writes USA Today. “The battle escalated last week when RNC chairwoman Ronna Romney McDaniel wrote an email to GOP donors warning them to stay away from Koch.”
The Koch Network has vowed to outraise the RNC by $150 million during this year’s election period.
“I don’t care what initials are in front or after somebody’s names,” said Koch, who also said he is willing to work with Democrats come fall.
The Democratic committee raised over $4 million more than the GOP in July.
“The two parties and their allied political committees are furiously raising money as the campaign for control of Congress enters a crucial phase. The main Democratic committee that backs House candidates has built its biggest cash-on-hand advantage over its Republican counterpart so far in the 2018 campaign, the filings show,” writes Bloomberg. “July was the sixth consecutive month the Democratic Congressional Campaign Committee has raised more than the National Republican Congressional Committee. The DCCC ended the month with $4.7 million more in its bank account.”
Tom Steyer, a billionaire hedge fund manager and liberal activist who has launched an impeachment campaign against President Donald Trump, has committed to donate $110 million to Democrats in the 2018 election cycle. Steyer has almost 1,000 staffers working at his two political organizations NextGen America and Need to Impeach.
Billionaire philanthropist George Soros has poured millions into the 2018 elections in support of Democratic candidates. Soros has donated $ 1 million to Democrat Andrew Gillum’s campaign to become Florida’s governor.
While Democrats may have more funding, Republicans have President Donald Trump working overtime. Trump will be on the road most of September to make appearances for GOP candidates. The president will visit 15 states in September, hold eight campaign rallies, and attend 16 fundraising events.
Author’s note: Donors are dropping a lot of money this midterm election cycle. Every time this happens, we question if there should be a limit on campaign spending.