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November 12, 2020
This week in money-in-politics
Donors, big and small, propel Biden to victory
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Democratic nominee Joe Biden was declared the winner of the 2020 presidential election Saturday, ending a prolonged period of vote counting that threw the nation into disarray.
Biden’s campaign used its unprecedented financial advantage to invest in every relevant state — a move President Donald Trump couldn’t afford to make — with the expectation he’d have multiple paths to victory. In the end, Biden secured the presidency with wins in Michigan, Wisconsin and Pennsylvania, three key swing states Trump flipped in 2016. He also won Arizona and appeared close to picking up Georgia, two states not won by a Democrat in over 20 years.
Trump has still not conceded. He’s instead made baseless claims that the election results are fraudulent. His campaign is engaged in numerous legal fights in an attempt to contest the election outcome, but many of the lawsuits have already been swiftly dismissed in court.
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** GOP challengers spent big in blue districts, lost bids for House seats
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In the aftermath of an expensive election, some House hopefuls — including GOP challengers in deep-blue districts — lost big despite raising and spending far more. In Maryland’s 7th Congressional District, Kimberly Klacik, Republican challenger to Rep. Kweisi Mfume, made headlines after raising more than $6.4 million between July and September. Mfume, who succeeded the late Rep. Elijah Cummings in a largely Democratic and predominantly Black district, reported raising only around $184,000 during the same quarter.
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** Trump leaves 2024 door open with fundraising push
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President Donald Trump is sending email after email to his supporters asking for money for his election defense fund, purportedly to cover the cost of lawsuits contesting the vote-counting. But all the money isn’t going directly to fighting for a recount. For the first few days after the election, half of those funds helped pay off the president’s debts. On Tuesday, the fundraising shifted gears, and now 60 percent of donations to Trump’s “Official Election Defense Fund” are routed to his new leadership PAC, which is not an official campaign committee but could lay the groundwork for a potential 2024 bid.
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** Powerful lobbying groups congratulate Biden, reject Trump claims
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With the exception of President Donald Trump and his GOP allies, pretty much everyone in Washington agrees Joe Biden is the president-elect, including the most powerful lobbying groups. Influential trade groups, including big business groups traditionally allied with Republicans, congratulated Biden shortly after news outlets projected he would win the presidency. Their embrace comes as every major industry calls for additional government aid to counter economic damage done by the COVID-19 pandemic.
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OpenSecrets in the News
See our media citations from outlets around the nation this week:
* ** Private Equity’s 2020 Election Bets Mostly Pay Off (The Wall Street Journal) ([link removed])
Of the 10 top recipients of money from the private-equity industry, eight won their races last week, based on data from the Center for Responsive Politics.
* ** In Amounts Large and Small, New Yorkers Give Big to Democratic Political Candidates Nationwide (New York 1) ([link removed])
The Empire State ranked second after California in total donations to Democrats, and fourth in donations to Republicans. Individual donors from New York State gave nearly $156 million to Democratic candidates and about $38 million to Republicans.
* ** K Street not waiting for Trump to concede the presidential race (Roll Call) ([link removed])
Even as Trump balked at conceding the election, lobbying interests that span the political and policy spectrum began to publicly congratulate President-elect Joe Biden and Vice President-elect Kamala Harris as soon as The Associated Press projected their win.
** The Washington Post ([link removed])
** The Associated Press ([link removed])
** The Independent ([link removed])
** The Boston Globe ([link removed])
** The Atlantic ([link removed])
** The Hill ([link removed])
** Yahoo! Finance ([link removed])
** Conway Daily Sun ([link removed])
** MIT Technology Review ([link removed])
** San Francisco Chronicle ([link removed])
** The Tennessee Tribune ([link removed])
** Buffalo News ([link removed])
** The Foothills Focus ([link removed])
** FactCheck.org ([link removed])
** Vogue ([link removed])
** Univision ([link removed])
** See more here ([link removed])
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** Chair-nave.jpg ([link removed])
4 star rating for 8 consecutive years
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