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May 16, 2024
Indicted member of Congress steers campaign donor funds to legal fees amid bribery allegations
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Rep. Henry Cuellar (D-Texas) has diverted over half of his 2024 campaign funds to cover legal fees as he faces charges related to allegedly accepting bribes from foreign actors in exchange for pushing policies favorable to them.
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FEC rejects initial proposal to weaken disclosure laws but agrees to further rulemaking
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OpenSecrets and other watchdog groups submitted comments to the FEC opposing looser disclosure requirements, arguing that transparency provides a necessary safeguard against corruption and undue influence.
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Self-funded candidates put more than $166 million into their own campaigns
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Wealthy candidates in key races across the country are pouring millions of dollars of their own money to self-fund their campaigns, an OpenSecrets analysis found. Although self-funded candidates tend to lose, their presence in a race increases the costs of running campaigns
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Chart of the Week
Dive deeper into the data behind the headlines
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What to Know:
The fragile status of Senate Democrats’ majority has created an opening for wealthy Republicans to spend copious amounts of money to oust incumbents in a major election year. With months still left before the general election and active primaries, tensions are ramping up as the GOP continues to battle against highly-funded Democrats.
By the Numbers:
According to Federal Election Commission filing data, roughly 45 self-funded candidates for both the House and Senate spent at least $1 million on their own campaigns, overall totaling more than $166 million this election cycle. Data shows that Republicans self-financed more overall, Democrats had far fewer self-funders in various races. On average, Democratic self-funders put in more money than Republican self-funders.
Dig Deeper:
Ian Vandewalker, senior counsel at the Brennan Center for Justice, told OpenSecrets that ultra-wealthy candidates tend to represent special interests and have different views on policy than most Americans. These differences may create tensions with working-class voters who see the ultra-wealthy as out of touch.
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OpenSecrets in the News
See our media citations from outlets around the nation this week:
A White-Collar Indictment Shatters Representative Henry Cuellar’s Blue-Collar Image (The New York Times) [[link removed]]
The spending detailed in the indictment includes using the foreign money to pay off $58,000 in credit card payments and other debts, fund living expenses and make purchases including a $12,000 custom gown for Ms. Cuellar and a $7,000 down payment for a new car. It presents a very different picture of Mr. Cuellar from the one he projected back in Laredo. His net worth dipped as low as $29,000 in 2013, down from a minimum of $200,000 the year before, according to an analysis of the disclosure filings by the nonpartisan website OpenSecrets.
Top US ethics watchdog investigating Trump over dinner with oil bosses (The Guardian) [[link removed](Crew)%20has%20told,oil%20and%20gas%20company%20executives.]
Citizens for Responsibility and Ethics in Washington (CREW) has told the Guardian that it is investigating the dinner at Trump’s club with more than 20 oil and gas company executives. Trump asked them for a $1bn presidential campaign contribution, while at the same time vowing to undo Joe Biden’s restrictions on natural gas export permits, oil drilling and car pollution. The fossil fuel industry has already donated $7.3m this election cycle to Trump’s campaign and groups backing his candidacy, according to Federal Election Commission data compiled by the non-profit watchdog OpenSecrets.
Top Republican donors fund group doxxing pro-Palestinian college students (CNBC) [[link removed]]
A far-right activist group that is doxxing college students who engage in pro-Palestinian protests revealed that it is funded by top Republican political donors and nonprofits backed by wealthy business leaders. The contributors listed on the tax return include billionaire Republican megadonor Jeff Yass, who Accuracy in Media said gave it $1 million. So far, Yass and his wife have contributed $70 million to dozens of Republican candidates and committees, according to the nonpartisan campaign finance database OpenSecrets.
Crypto industry’s lobbying hit a record in 2023 — and is off to a strong start in 2024 (MarketWatch) [[link removed]]
Biden shores up Silicon Valley support despite lack of enthusiasm [[link removed]]
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10 primaries to watch in Maryland, Nebraska and West Virginia [[link removed]]
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Temu Cools on the U.S. After Shelling Out Billions [[link removed]]
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Rep. Henry Cuellar accused of taking bribes from Azerbaijan, Mexican bank [[link removed]]
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[[link removed].] [[link removed]] [[link removed].] [[link removed]] [[link removed].] [[link removed]] Billionaire Ken Griffin Praises Trump—But Won’t Endorse Trump Until He Picks A VP (Forbes) [[link removed]]
Republican chair investigating Chamber of Commerce in seismic K Street shift [[link removed]]
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