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October 22, 2020
This week in money-in-politics
Outside spending reaches record $2 billion as
super PACs hammer Trump
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Big-money groups backed primarily by billionaire donors are unleashing an unprecedented amount of outside money into key races.
Outside spending has already surpassed $2 billion, smashing the outside spending record set in the 2016 election with two weeks to go before Election Day. That’s according to OpenSecrets’ outside spending tracker, which follows efforts by super PACs, political parties and “dark money” nonprofits, among other groups, to influence elections.
The 2020 election will be the most expensive ever by a large margin, and no election has ever seen anywhere near this amount of outside money. The bulk of that outside spending — $1.7 billion — comes from super PACs and hybrid PACs, groups that can raise and spend unlimited amounts of money independently of campaigns thanks to the 2010 Citizens United Supreme Court ruling.
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** Biden heads into final weeks with record cash advantage
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President Donald Trump entered the final stretch of the 2020 election with little cash left to spend. Trump’s once mighty financial advantage appears to be a major liability against Democratic nominee Joe Biden, who is crushing fundraising records. Trump’s campaign raised $81 million in September but burned through $139 million, leaving his campaign with just $63 million on hand.
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** Senate GOP ‘dark money’ group passing millions to super PAC, avoiding disclosure
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Senate Republican leadership-aligned “dark money” group One Nation has funneled around $75 million into 2020 elections without ever disclosing a dime to the Federal Election Commission, new campaign finance filings and ad records show. One Nation bankrolled around $40 million in TV ads across at least eleven states.
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** From South Carolina to Maine, out-of-state donors give big in Senate races
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Out-of-state donors are fueling the cash raised in the most competitive U.S. Senate races this year. A diverse set of candidates, from Jaime Harrison in South Carolina to Amy McGrath in Kentucky to both contenders for the Maine Senate, are receiving over 90 percent of their contributions from out-of-state supporters. It’s relatively standard that closely-watched Senate races are inundated with out-of-state donations.
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Adelsons give big to GOP super PACs,
setting new donation record
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The casino-owning couple and perennial super-spenders Sheldon and Miriam Adelson set a new record for donations from individuals in a single election cycle, giving $172.7 million.
The 2020 election cycle is projected to cost a record-smashing $11 billion. So far, an unprecedented amount, $2 billion, comes from outside spending groups, which can receive unlimited funds from wealthy billionaires like the Adelsons. The couple gave $170 million in outside spending this year. As they have for 30 years, all their donations went to Republicans and conservative groups.
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More articles from OpenSecrets:
** Trump has oil industry support, but Exxon isn’t bankrolling his campaign ([link removed])
** House Democrats outraise Republicans in competitive districts ([link removed])
** Stop the spread of disinformation. Help make online ads transparent. ([link removed])
Outside Spending Records Broken this Week
With less than two weeks to go until Election Day, a number of records have already been smashed.
* ** The 2020 presidential election has now seen more outside spending than any other race in history ([link removed])
* ** The GOP leadership-aligned Senate Leadership Fund became the first super PAC to spend over $200 million (crp.org/supe)
OpenSecrets in the News
See our media citations from outlets around the nation this week:
* ** Florida Lobbyist Thrives in Trump-Era Washington (The Wall Street Journal) ([link removed])
Nothing is more key to success for lobbyists in today's Washington than ties to the Trump administration, and no one knows that better than fundraiser-turned-lobbyist Brian Ballard.
* ** Black women are running for office in historic numbers. But they aren’t getting the financial support they need, records show. (The Lily) ([link removed])
Fundraising often shows the same gender & race pay gaps we see in the workforce. In House races this cycle, Black Democratic women have, on average, raised $800,000. White women, on the other hand, raised $1.4 million on average.
* ** Adelsons donate $75 million to pro-Trump super PAC (Las Vegas Review-Journal) ([link removed])
Sheldon and Miriam Adelson donated $12.5 million each three times between Aug. 25 and Sept. 25, making the Las Vegas couple the largest donors to pro-Trump super PAC Preserve America.
** The Washington Post ([link removed])
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** Aspen Public Radio ([link removed])
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** Pennsylvania Capital-Star ([link removed])
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** Oregon Public Broadcasting ([link removed])
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** The Clarksville Leaf-Chronicle ([link removed])
** Alabama Media Group ([link removed])
** The Colorado Sun ([link removed])
** KSTP - Minneapolis ([link removed])
** KTRH - Houston ([link removed])
** The Australian Broadcasting Company ([link removed])
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4 star rating for 8 consecutive years
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