thomas steyer

A $5 Million Check Fuels Super PAC

A Democratic-oriented Super PAC reported today it received $5 million from an individual for use in making independent expenditures in the 2014 elections.  

The Senate Majority PAC, a Democratic-oriented Super PAC, reported it had receipts of $5.7 million from April 17th through April 30th. The major donor was Thomas Steyer , founder of Fahr LLC in San Francisco, California. Steyer gave the $5 million through his NextGen Action Committee. Steyer was also founder of the hedge fund Farallon Capital Management.  

Corporations Can Expect To Pay More For Conventions

Congress has taken steps to remove public funds from partially paying for national party conventions, but corporations, unions, and individuals will soon be on the hook for making up the difference.  

The Senate on Tuesday passed a bill by voice vote to end taxpayer funding for presidential party conventions and use those funds for researching pediatric cancer and other childhood disorders. The funds come from the $3 check-off on taxpayer annual returns.  

New Reports Show Big Checks Flow for Politics

If you thought money in politics was limited, take a look at the big checks from donors being reported by Super PACs, joint fundraising committees, and Section 527 groups.  

Year-End campaign finance reports of candidates and political committees are due today, and disclose financial activity for the last part of 2013. While there are limits on how much can be given directly to federal candidates and a political committees, the limits are higher when several committees set up a joint fundraising committee. For Super PACs, that do not give directly to candidates but make independent expenditures, there are no limits. For Section 527 groups, there are no limits.