Also: a continued examination of our lawmakers' personal finances.
Your weekly newsletter on money in politics.
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May 7, 2020
This week in money-in-politics
Lincoln Project capitalizes on Trump’s rage as its spending comes under scrutiny
The Lincoln Project, a super PAC launched by prominent anti-Trump Republicans, aired an ad this week on Fox News that trashes President Donald Trump over his response to COVID-19. Trump responded with a tweetstorm ripping the group and its members, with much of his ire directed at George Conway, husband of White House counselor Kellyanne Conway.
The super PAC has amassed a substantial war chest, but it has come under scrutiny for funneling money to its advisory board members and spending relatively little airing political ads to influence voters. The group also hides some of its vendors by stealthily paying subcontractors, making it difficult to follow the money.
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** Trump-tied companies receive millions in small business aid
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Companies with ties to President Donald Trump are swiftly receiving small business loans under the $669 billion Paycheck Protection Program authorized by the federal government amid the coronavirus outbreak. Whether it’s public companies run by big Trump donors or those that hired lobbyists with connections to the White House, some multi-million dollar loans are going to large companies as small businesses wait for monetary relief.
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** Congress invested in real estate, then it gave tax breaks to real estate investors
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Congress slipped a provision into the $2.2 trillion stimulus bill that will save wealthy real estate investors billions in taxes. Some lawmakers stand to profit from the legislation meant to weather the impact of the coronavirus pandemic that has killed tens of thousands and left tens of millions out of work. Members of Congress invest more cash in real estate than any other industry.
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** Influential Republican super PAC makes its return to boost Trump
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After lying low for several election cycles, influential Republican super PAC American Crossroads is jumping into the 2020 presidential election to back President Donald Trump. American Crossroads recently reported spending nearly $367,000 to support Trump in a 13-state text messaging campaign. The group placed its biggest bet of more than $89,000 in Florida, where Joe Biden is polling slightly ahead of Trump.
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OpenSecrets in the News
See where we've been cited by media outlets around the nation this week:
* ** Cybersecurity Lobbying Spending Mounts as Privacy, Security Laws Take Shape (The Wall Street Journal) ([link removed])
The collective lobbying spending of 12 large publicly traded cybersecurity firms more than tripled to $3.94 million in 2019 from $1.21 million in 2015.
* ** Out-of-state dollars dominate high-stakes Kansas races for Senate and House in 2020 (The Kansas City Star) ([link removed])
With three competitive federal races, out of state money is pouring into Kansas, with a number of candidates getting more than half of their funds from non-Kansan donors.
* ** Following the (Drug) Money (Project on Government Oversight) ([link removed])
When it comes to legislation affecting medical products, industry money is often flowing just beneath the surface of the policy discussion—if not in plain view.
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