Super PAC donations breaks $1 billion barrier

Donations from super PAC have surged past the $1 billion barrier. According to an analysis by USA Today, donations to the super PACs at August end are in the region of $1.1 billion. The filed reports related to campaign finance show that a few highly wealthy contributors have given the majority of the money. The aim is to make the candidate of their choice the next President of the United States.

The 2016 donations have already surpassed donation amounts collected during the 2012 election cycle. At that time, the amount of money poured into the political battle was in the region of $846.8 million. The 2012 was the first year when the super PACs became functioning. When one looks closer, it is seen that almost 50 percent of the money collected have been donated by 62 individuals, unions and companies. Each of them donated in the region of $3 million. The donations are not capped and the money continues to flow in.

Among the Republican donors, Sheldon Adelson, the casino magnate, and his wife have topped among PAC donors in the 2012 election. Miriam, his wife and Adelson have started to spend, with a $20 million kitty in August. They want to make sure that the narrow majority of Republicans in Senate is maintained. Yet another $20 million of the billionaire’s money is being directed at a super PAC focused on White House domination. 

The casino magnate has combined financial forces with J. Joe Ricketts, the founder of Ameritrade, to help fund a super PAC-Future45- with the intention to defeat Hillary Clinton. The money will be utilized to buy negative ads, phone calls and mailers so that the Democrats lose. Adelson has already committed $5 million, and about $million will be given by the Ricketts family. The super PAC has also shot a number of television advertisements which will be aired nationally. These advertisements will have their first showing during the fourth week of September.

According to Brian Baker, entrusted by the Ricketts family to stop Clinton becoming president, the last minute push was due to the fact that it is a time period when voters make up their minds on whom to give their votes to. He went on to say that Future45 wants to educate the voters concerning Secretary Clinton’s record. Democrats too are also not far behind, raising $64.8 million from the initial fund of $45.1 million.

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