Los Angeles Times: Corporate campaign fundraising picks up speed

Written by admin on August 3rd, 2010

The Los Angeles Times reports on how the recent Supreme Court decision on corporation campaign contribution has affected the mid-term election cycle.

Story here:

http://www.latimes.com/news/nationworld/nation/la-na-politics-money-20100802,0,3132080.story

Driven by increasing anger at Democratic policies and by recent Supreme Court decisions unshackling corporate contributions, business and conservative groups are preparing a flood of campaign money to try to wrest control of Congress from the Democrats.

The U.S. Chamber of Commerce, the biggest collection point for corporate contributions, has increased its spending for the congressional election in November from $35 million in 2008 to a projected $75 million this year. Officials say it may go even higher.

The chamber has been joined by new conservative fundraising organizations — such as American Crossroads, affiliated with Republican strategist Karl Rove — that have committed to raising tens of millions of dollars.

One report circulating among Democratic leaders on Capitol Hill last week estimated that more than $300 million has been budgeted for the campaign by a group of 15 conservative tax-exempt organizations. “A commitment of $300 million from just 15 organizations is a huge amount, putting them in record territory for groups on the right or left,” said Sheila Krumholz, executive director of the nonpartisan Center for Responsive Politics, which tracks campaign contributions. “With control of Congress hanging in the balance, this kind of spending could have a major impact.” The money’s power is magnified because it will be concentrated in a relatively small number of swing states and districts. Of the 435 House and 37 Senate seats at issue in November, about 100 House seats and 18 in the Senate are considered competitive.
 

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