Site icon The Punching Bag Post

Big Donors are Making Big Investments in the Midterm Election Cycle

<p>As the midterm elections quickly approach&comma; donors are stepping up their political spending&period;<&sol;p>&NewLine;<p>Billionaire casino owner Sheldon Adelson and his wife&comma; Miriam have dropped &dollar;55 million in total support of the GOP&comma; &dollar;25 million of which was given to the Senate Leadership Fund&period; &dollar;30 million was also donated by the Adelsons in May to House Speaker Paul Ryan&&num;8217&semi;s super PAC&comma; the Congressional Leadership Fund&period;<&sol;p>&NewLine;<p>July was a big month for the Republican National Committee &lpar;RNC&comma;&rpar; which raised &dollar;14&plus; million&comma; according to the Federal Election Commission filings&period;&nbsp&semi;<&sol;p>&NewLine;<p>However&comma; not everyone is happy about how the GOP campaign is spending its funding&period; Two former top National Republican Congressional Committee &lpar;NRCC&rpar; officials are disappointed that the NRCC is waiting until September to go big with campaigning efforts&period;&nbsp&semi;<&sol;p>&NewLine;<p>&ldquo&semi;It&rsquo&semi;s a dereliction of duty for a congressional committee to not be on air in August&comma;&rdquo&semi; said one of the former NRCC officials to <em>The Hill&period;<&sol;em> &ldquo&semi;Republicans are in real danger of losing the majority&comma; and it seems that the NRCC is asleep at the switch&period;&rdquo&semi;<&sol;p>&NewLine;<p>The biggest struggle for Republicans according to House Speaker Ryan is selling voters on the party&&num;8217&semi;s recent victories like the tax plan&period;&nbsp&semi;<&sol;p>&NewLine;<p>The libertarian-leaning Koch network&comma; affiliated with billionaire industrialist Charles Koch who did not vote for Trump for president in 2016&comma; has been feuding with the RNC&period;<&sol;p>&NewLine;<p>&&num;8220&semi;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&period; Koch did not support Trump for president in 2016&comma;&&num;8221&semi; writes <em>USA Today&period;<&sol;em> &&num;8220&semi;The battle escalated last week when RNC chairwoman Ronna Romney McDaniel wrote an email to GOP donors warning them to stay away from Koch&period;&&num;8221&semi;<&sol;p>&NewLine;<p>The Koch Network has vowed to outraise the RNC by &dollar;150 million during this year&&num;8217&semi;s election period&period;&nbsp&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;I don&rsquo&semi;t care what initials are in front or after somebody&rsquo&semi;s names&comma;&rdquo&semi; said Koch&comma; who also said he is willing to work with Democrats come fall&period;&nbsp&semi;&nbsp&semi;<&sol;p>&NewLine;<p>The Democratic committee raised over &dollar;4 million more than the GOP in July&period;<&sol;p>&NewLine;<p>&&num;8220&semi;The two parties and their allied political committees are furiously raising money as the campaign for control of Congress enters a crucial phase&period; 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&comma; the filings show&comma;&&num;8221&semi; writes <em>Bloomberg&period;<&sol;em> &&num;8220&semi;July was the sixth consecutive month the Democratic Congressional Campaign Committee has raised more than the National Republican Congressional Committee&period; The DCCC ended the month with &dollar;4&period;7 million more in its bank account&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Tom Steyer&comma; a billionaire hedge fund manager and liberal activist who has launched an impeachment campaign against President Donald Trump&comma; has committed to donate &dollar;110 million to Democrats in the 2018 election cycle&period; Steyer has almost 1&comma;000 staffers working at his two political organizations NextGen America and Need to Impeach&period;<&sol;p>&NewLine;<p>Billionaire philanthropist George Soros has poured millions into the 2018 elections in support of Democratic candidates&period; Soros has donated &dollar; 1 million to Democrat Andrew Gillum&&num;8217&semi;s campaign to become Florida&&num;8217&semi;s governor&period;&nbsp&semi;<&sol;p>&NewLine;<p>While Democrats may have more funding&comma; Republicans have President Donald Trump working overtime&period; Trump will be on the road most of September to make appearances for GOP candidates&period; The president will visit 15 states in September&comma; hold eight campaign rallies&comma; and attend 16 fundraising events&period;&nbsp&semi;<&sol;p>&NewLine;<p><strong>Author&&num;8217&semi;s note&colon;<&sol;strong> Donors are dropping a lot of money this midterm election cycle&period; Every time this happens&comma; we question if there should be a limit on campaign spending&period;&nbsp&semi;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;

Exit mobile version