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October 8, 2020
This week in money-in-politics
New faces emerge among top political donors in 2020
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The political contributions of the top 10 megadonors and their spouses comprise more than $342 million during the 2020 election cycle, with the vast majority of that — almost $328 million — going to outside groups that can accept unlimited amounts of cash. These wealthy donors are helping push outside spending to record levels, already totaling nearly $1.5 billion with a month to go before Election Day.
Outside spending consists of expenditures made by people or groups independently of, and not coordinated with, candidates’ committees. This kind of election spending has exploded in the decade since the Supreme Court’s Citizens United ruling.
This cycle’s top megadonors includes perennial super-spenders Sheldon Adelson and former Democratic presidential candidate Tom Steyer, as well as lesser-known donors who have boosted their contributions in recent years.
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OpenSecrets' new online ads portal ([link removed]) provides a comprehensive look into the massive amounts of money being poured into political ads on Facebook and Google.
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** Never-Trump group is 2020’s top ‘dark money’ spender so far
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President Donald Trump’s reelection effort faces an onslaught of attack ads from well-funded groups run by disaffected Republicans. And one of the most prominent of these Never-Trump groups isn’t disclosing its sources of funding. Defending Democracy Together has spent $11.5 million on independent expenditures opposing Trump or backing Democratic nominee Joe Biden. Organized as a 501(c)(4) nonprofit and thus not required to disclose its donors, it’s the top spending “dark money” group of the 2020 election cycle so far.
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** Democrat Harrison eclipses Graham in South Carolina Senate spending
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South Carolina Democrat Jaime Harrison has proven a worthy opponent for incumbent Sen. Lindsey Graham (R-S.C) in the expensive 2020 Senate race. According to a recent Quinnipiac University Poll, the candidates are tied at 48 percent among likely voters, making the upcoming election among the toughest of Graham’s career. Graham also received a somewhat negative favorability rating of 43 percent, while 51 percent found him unfavorable. Harrison’s, on the other hand, is generally positive at 48 percent favorable versus 35 percent unfavorable.
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** While Biden’s campaign pulled negative ads, super PACs kept attacking Trump
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Democratic nominee Joe Biden pulled negative ads after President Donald Trump tested positive for COVID-19. But deep-pocketed super PACs supporting Biden’s campaign continue to hammer Trump on the airwaves, showing how outside groups often do the dirty work for candidates. Shortly after Trump announced he had contracted COVID-19, Biden said he would cancel attack ads against Trump. Biden and his campaign leaders also asked staff to refrain from commenting about Trump’s condition on social media.
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OpenSecrets in the News
See our media citations from outlets around the nation this week:
* ** Facebook rakes in political ad money as campaigns flood the only digital channel available (CNBC) ([link removed])
Ads from politicians and campaigns accounted for at least 3% of Facebook’s estimated third-quarter U.S. revenue, according to data from Facebook’s ad library and the Center for Responsive Politics.
* ** Maine’s US Senate race is the most negative one in the country (Bangor Daily News) ([link removed])
The race between Sen. Susan Collins and House Speaker Sara Gideon, which also features independents Lisa Savage and Max Linn, has already set records as the most expensive in Maine’s history. More than $13 million was spent in Maine during the period the report studied.
* ** Amazon and Big Tech cozy up to Biden camp with cash and connections (Reuters) ([link removed])
"Amazon appears to have taken an early lead making in-roads with the Biden camp, according to data gathered by Reuters from OpenSecrets and campaign finance records, along with interviews with over a dozen stakeholders including anti-monopoly groups, lobbyists, congressional aides, competitors and lawmakers."
** The New York Times ([link removed])
** The Associated Press ([link removed])
** Politico ([link removed])
** Roll Call ([link removed])
** Marketplace ([link removed])
** Axios ([link removed])
** The Hill ([link removed])
** The Los Angeles Times ([link removed])
** Santa Fe New Mexican ([link removed])
** Arizona Daily Star ([link removed])
** Cincinnati Business Courier ([link removed])
** The Spokesman-Review ([link removed])
** Illinois Newsroom ([link removed])
** Maine Public Radio ([link removed])
** The Arizona Republic ([link removed])
** S&P Global ([link removed])
** The Times of Israel ([link removed])
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4 star rating for 8 consecutive years
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