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July 23, 2020
This week in money-in-politics
Political donors whose businesses got PPP loans injected $52 million into 2020 election
Government rescue loans meant for struggling small businesses went to a number of well-connected firms whose executives are major contributors to lawmakers’ campaigns and political parties.
Employees and PACs connected to firms that received loans under the Paycheck Protection Program — and in some cases the companies themselves — contributed at least $52 million to federal committees during the 2020 election cycle. Republicans and conservative groups got $27 million from these donors, while Democrats and liberal groups received $24 million. That’s according to OpenSecrets’ analysis of partial loan data released by the Small Business Administration this month.
OpenSecrets found that employees linked to roughly 4,800 businesses made political donations of $1,000 or more during the 2020 election cycle. That’s a small slice of the 650,000 businesses disclosed as receiving a loan of $150,000 or more.
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** Montana’s Senate race already surpassed fundraising records
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With less than four months to go until Election Day, Montana’s Senate race has already shattered fundraising records. Democrat Steve Bullock more than doubled the previous record for single quarterly fundraising for a Senate race in the state. He raised $7.7 million from April to June. Bullock’s opponent, incumbent Sen. Steve Daines (R-Mont.), collected more than $4.8 million in the same period.
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** Super PACs tied to congressional leaders amass nearly $300 million
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Super PACs directly connected to party leaders in the House and Senate are sitting on $294 million as they prepare to flood the airwaves with inflammatory ads this fall. Wealthy donors wielding significant influence with top lawmakers — and those giving anonymously through “dark money” groups — account for most of the outside groups’ fundraising efforts.
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** Koch PAC requests refund of donation to QAnon candidate as others stand pat
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The day before Republican candidate Marjorie Taylor Greene secured the most votes in Georgia’s 14th District House primary, KochPAC, the political action committee of Koch Industries, contributed $5,000 to her campaign. The PAC, affiliated with Koch Industries CEO and conservative megadonor Charles Koch, requested a refund of its donation within weeks.
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Facebook spends big on lobbying as key hearing nears
Plagued by criticisms of its moderating practices, a congressional antitrust probe and a recent executive order from President Donald Trump explicitly naming the company as a potential threat to free speech, Facebook spent $4.8 million on lobbying in the second quarter of 2020, following a record-breaking first quarter that saw the company spend over $5 million.
Facebook is on pace to spend more on lobbying in 2020 than it ever has in a single year. This follows two consecutive record-setting years for the company that saw it spend $12.6 million and $16.7 million on lobbying, respectively. The social media giant currently deploys 65 lobbyists.
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OpenSecrets in the News
See our media citations from outlets around the nation this week:
* ** Political spending at Trump properties tops $22 million (CNN) ([link removed])
President Donald Trump's campaign and affiliated political committees have continued to drive hundreds of thousands of dollars to his companies in recent months.
* ** Cory Gardner calls for Republican attack ad invoking deadly 2017 Firestone explosion to be taken down (The Colorado Sun) ([link removed])
Sen. Cory Cardner (R-Colo.) wants the NRSC to stop running an ad that attacks his Democratic opponent. The group has said it will not do so.
* ** The Role Of 501(c)(4)s In Politics (Spectrum News) ([link removed])
WATCH: OpenSecrets' 'Dark Money' expert Anna Massoglia talks to Spectrum News about the ways 501(c)(4) groups avoid disclosing their donors while still spending to influence our politics.
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