If you thought money in politics was limited, take a look at the big checks from donors being reported by Super PACs, joint fundraising committees, and Section 527 groups. Year-End campaign finance reports of candidates and political committees are due today, and disclose financial activity for the last part of 2013. While there are limits on how much can be given directly to federal candidates and a political committees, the limits are higher when several committees set up a joint fundraising committee. For Super PACs, that do not give directly to candidates but make independent expenditures, there are no limits. For Section 527 groups, there are no limits. A quick look at a few new reports shows the following large contributions: The Republican Governors Association gave $1 million on 12/9 to its Super PAC, RGA Right Direction PAC. The United Brotherhood of Carpenters & Joiners gave $1,925,677 to its Super PAC, Working for Working Americans. The Super PAC then gave funds to other Super PACs, including $750,000 to Funds for Jobs, Growth and Security; $250,000 to Defending Main Street Super PAC; $250,000 to House Majority PAC; $100,000 to Win Minnesota Federal PAC. Michael Bloomberg , former mayor of New York City, and majority owner of Bloomberg LP, gave $300,000 to his Super PAC, Independence USA PAC. Californians For a House Majority , a Republican-oriented Super PAC, received $58,000 from Carol Troesch (retired, NV); $50,000 from Steven Craig (president, Craig Realty Group, CA); $50,000 from Michelle Horowitz (investor, CA); $50,000 from Tommy Larkin (executive, Transamerica Inv. Mgmt., CA). (more…)
