Also: A new nominee for the FEC
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March 5th, 2020
This week in money-in-politics
Low on cash and delegates, Warren ends her White House bid
Sen. Elizabeth Warren (D-Mass.) suspended her campaign Thursday, ending a White House bid highlighted by fierce debate performances and strong grassroots support.
Like her fellow progressive Sen. Bernie Sanders (I-Vt.), Warren rejected big-dollar fundraisers and relied mostly on small donors to fund her campaign. Of her $92 million fundraising haul, more than half came from those giving $200 or less. Warren’s campaign received significant support from women donors, who accounted for more than half of her fundraising total. She did not have a stark gender gap like Sanders, who received 39 percent of his campaign cash from women.
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** Trump’s nominee to restore FEC criticized for ‘dark money’ history
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Senate Republicans will consider advancing President Donald Trump’s GOP nominee to the Federal Election Commission next week, potentially giving the paralyzed watchdog the fourth member it needs to enforce election law. Transparency groups are criticizing Trump’s pick — Texas election lawyer James “Trey” Trainor — over his opposition to campaign finance regulation.
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** Bloomberg’s half-billion dollar investment failed to pay dividends
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Michael Bloomberg dropped out of the Democratic presidential primary Wednesday after his half-billion dollar campaign fell flat on Super Tuesday. Despite spending unprecedented sums on advertising and campaign staff, the billionaire philanthropist didn’t win a single state. Bloomberg endorsed Joe Biden on the heels of the former vice president’s hugely successful night.
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** Establishment Democrats edge out AOC-backed candidates on Super Tuesday
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Progressive candidates backed by Rep. Alexandria Ocasio-Cortez (D-N.Y.) were unable to replicate the freshman lawmaker’s 2018 success on Super Tuesday, losing to better funded Democrats. In one of the more closely watched races, progressive challenger Jessica Cisneros narrowly lost to 15-year incumbent Rep. Henry Cuellar (D-Texas) in Texas’ 28th district.
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Biden’s White House bid boosted by Wall Street cash
Former Vice President Joe Biden sits at the top of the pack with more Wall Street cash than any other candidate in the presidential field. With other moderate candidates out of the race, Biden could get even more money from the deep-pocketed securities and investment industry.
So far, the industry contributed a total of $4.4 million to Biden’s campaign committee and closely-tied super PAC that supports his third presidential run. After securing a big win in South Carolina and pending a strong Super Tuesday performance, Wall Street donors told Reuters they would be ready to fully support Biden.
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OpenSecrets in the News
See where we've been cited by media outlets around the nation this week:
* ** Bloomberg and Steyer spent more than three quarters of a billion dollars on the 2020 race. Voters didn't care (CNN) ([link removed])
"We always say money is essential, but it's not sufficient," said Sheila Krumholz, the executive director of the nonpartisan Center for Responsive Politics.
* ** Incumbent Armstrong has huge funding advantage in House race (Grand Forks Herald) ([link removed])
In North Dakota's lone House race, incumbent Republican Kelly Armstrong has a massive fundraising advantage. And he says he is just getting started.
* ** Which 2020 Democrat has the most Wall Street support? (Fox Business) ([link removed])
Several Wall Street donors have said they are ready to support him should he follow up his blowout victory in South Carolina with a win on Super Tuesday.
** The Washington Post ([link removed])
** NPR ([link removed])
** Politico ([link removed])
** FiveThirtyEight ([link removed])
** Fox News ([link removed])
** The Washington Free Beacon ([link removed])
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** New Jersey Advance ([link removed])
** Vail Daily ([link removed])
** Kenosha News ([link removed])
** West Hawaii Today ([link removed])
** FOX Wilminton ([link removed])
** Santa Cruz Sentinel ([link removed])
** Los Angeles Times ([link removed])
** Free Speech TV ([link removed])
** E&E News ([link removed])
** MarketPlace ([link removed])
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