A New York hedge fund company has taken advantage of the Supreme Court's ruling in Citizens United and contributed $100,000 to a Republican super PAC. The head of the company has similarities to Jack Abramoff. Anthony Scaramucci's private company, Skybridge Capital II LLC, was listed in a disclosure report on Monday as contributing $100,000 to American Crossroads, a Republican-oriented super PAC that makes independent expenditures. In the 2011-2012 election cycle, Skybridge Capital II LLC had given $75,000 to Restore Our Future, a Republican oriented Super PAC supporting Mitt Romney. The firm had also given $25,000 to the Republican Governors Association. In the past, Scaramucci had made regular maximum contributions to Republicans and is by far the most active donor at the firm he founded. The Citizens United decision held that the First Amendment prohibits the government from restricting political independent expenditures by corporations. As a result, his firm can contribute to super PACs making independent expenditures. It is not clear there is a benefit from writing a contribution check from one's own firm's account rather than one's personal checkbook. The corporation should not be deducting the contribution as a business expense. (more…)
