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November 12, 2020
This week in money-in-politics
 
Donors, big and small, propel Biden to victory
 

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


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
 

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


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:  

The Washington Post
The Associated Press
The Independent
The Boston Globe
The Atlantic
The Hill
Yahoo! Finance
Conway Daily Sun
MIT Technology Review
San Francisco Chronicle
The Tennessee Tribune
Buffalo News
The Foothills Focus
FactCheck.org
Vogue
Univision

 

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