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January 16th, 2020
This week in money-in-politics

More money, less transparency:
A decade under Citizens United

The Center for Responsive Politics has published a new report, More money, less transparency: A decade under Citizens United, a comprehensive look at the lasting impacts of this profoundly important case. Leveraging over 35 years of experience, this report uses OpenSecrets’ original research, which finds, among other conclusions:
* Individual millionaires and billionaires, not corporations, emerged as the dominant political giving force. Just 10 donors accounted for more than $1 billion over the decade.
* Independent groups, which have spent $4.5 billion since the ruling, routinely overshadow political parties and even candidates in crucial races.
* With corporations, nonprofits and the like able to spend on elections, voters are often being influenced by secretive groups that don’t share information about their funding sources.

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** Sanders donors less likely to give to other candidates, but when they do, it’s Warren
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Sen. Bernie Sanders has a loyal base of donors who are the least likely to contribute to other Democratic presidential candidates. But when they do stray, Sanders supporters choose Sen. Elizabeth Warren. On the other side, Warren’s donors are much more likely to give to Sanders.
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** Will donors to Cory Booker move to other 2020 Democrats?
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Sen. Cory Booker (D-N.J.) shares thousands of donors with several presidential candidates, making it difficult to say who might get a fundraising boost from his decision to leave the race. Among the remaining contenders, Booker shares the most donors (23,088) with Sen. Elizabeth Warren (D-Mass.), and former South Bend, Ind., Mayor Pete Buttigieg (17,983).
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** Tom Steyer joins Democratic debate thanks to multi-million dollar ad spending
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Billionaire investor and Democratic megadonor Tom Steyer’s massive spending on TV ads in two early primary states boosted his polling numbers and propelled him to Tuesday’s Democratic primary debate stage. Steyer’s increase in the polls in South Carolina and Nevada can be attributed to his aggressive ad campaign in those states.
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A look at Joint Fundraising Committees


Following moves by Trump Victory —a joint fundraising committee that benefits both the Trump campaign and the RNC — to bring 22 state parties into the fold, it is worth taking a closer look at what, exactly, a Joint Fundraising Committee is. The inclusion of these state parties now allows one donor to write a $580,600 check without violating campaign contributions limits.

JFCs can be created by two or more candidates, PACs or party committees to share the costs of fundraising, and split the proceeds. Participants in the JFC can't take any more money from a donor than they could if the money was given directly, but this vehicle allows a donor to write one very large check. Since the 2014 McCutcheon v. FEC decision which removed overall aggregate giving limits, JFCs can involve a virtually unlimited number of candidates or committees, which can then solicit one donor for one big contribution.

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OpenSecrets in the News

See where we've been cited by media outlets around the nation this week.

* ** OpenSecrets reporter Karl Evers-Hillstrom talks Citizens United on C-Span Radio ([link removed])
Starting around 34 minutes in, you can hear Karl discuss our new report on Citizens United and the impact of Citizens United.

* ** Super PACs after 10 years: Often maligned but heavily used (Roll Call) ([link removed])
Even as candidates crusade against super PACs, almost every federally elected official (especially those in swing districts) benefit from super PAC spending.

* ** Since Citizens United, a Decade of Super PACs (Brennan Center for Justice) ([link removed])
Ten years after the creation of super PACs, wealthy interests use them to funnel billions into elections and make a mockery of contribution limits.

** The Wall Street Journal ([link removed])

** The Hill ([link removed])

** CNBC ([link removed])
** The Washington Free Beacon ([link removed])

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** Roll Call ([link removed])
** The Raleigh News and Observer ([link removed])

** The Eagle-Tribune ([link removed])
** KTAR News —Arizona ([link removed])
** The Des Moines Register ([link removed])
** Bloomberg ([link removed])
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