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October 8, 2020
This week in money-in-politics
 
New faces emerge among top political donors in 2020


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 provides a comprehensive look into the massive amounts of money being poured into political ads on Facebook and Google.

Never-Trump group is 2020’s top ‘dark money’ spender so far


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
 

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


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:  

The New York Times
The Associated Press
Politico
Roll Call
Marketplace
Axios
The Hill
The Los Angeles Times
Santa Fe New Mexican
Arizona Daily Star
Cincinnati Business Courier
The Spokesman-Review
Illinois Newsroom
Maine Public Radio
The Arizona Republic
S&P Global
The Times of Israel

 

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