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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


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
 

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


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.

OpenSecrets in the News

See our media citations from outlets around the nation this week:  

The Washington Post
ABC News
CNBC
The Los Angeles Times
Fox Business
Bangor Daily News
The Salt Lake Tribune
The Columbus Dispatch
The Boston Globe
Albuquerque Journal
MinnPost
The Times of San Diego
Juneau Empire
Daily Hampshire Gazette
TIME
Univision

 

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