Search This Blog

Defying the Odds

Defying the Odds
New book about the 2016 election.

Monday, January 12, 2015

Big-Money Individual Donors Favored Democrats

Kenneth P. Vogel reports at Politico:
Democrats spent much of the 2014 campaign castigating Republican big money, but, it turns out, their side actually finished ahead among the biggest donors of 2014 – at least among those whose contributions were disclosed.
The 100 biggest donors of 2014 gave nearly $174 million to Democrats, compared to more than $140 million to Republicans, according to a POLITICO analysis of reports filed with the Federal Election Commission and Internal Revenue Service.
Donors who gave mostly or exclusively to Democrats held down 52 of the top 100 spots, including that of the biggest by far – retired San Francisco hedge fund billionaire Tom Steyer, who spent $74 million helping Democratic candidates and groups.
Of course, that edge doesn’t take into account contributions to deep-pocketed non-profit groups that don’t disclose their donors. They heavily favored Republicans, with reports showing conservative secret money non-profits outspending liberal ones $127 million to $33 million. While that’s just a fraction of the overall undisclosed money spent in 2014, it’s indicative of a dramatic imbalance in a type of big money spending that likely would close the gap between Democratic and Republican top donors, if not put Republicans ahead.