Bloomberg: Super PACs Multiply as Companies Freed to Give

At least 25 “super PACS,” including one linked to Karl Rove, are fueling a surge in money for this year’s elections following the U.S. Supreme Court ruling that struck down limits on corporate campaign spending.

These political action committees can take unlimited company, union and individual donations and explicitly urge voters to support or oppose candidates, unlike ordinary PACs and nonprofit groups. Like other PACs, they must register with the Federal Election Commission and disclose donors.

“They can say whatever they want politically in the advertising,” said Michael Toner, a former FEC chairman who’s among the lawyers dubbing them super PACs. “It’s very liberating.”

American Crossroads, a group advised by Rove, a top adviser to former President George W. Bush, said it has raised more than $17 million. That includes $1 million from Dixie Rice Agricultural Corp., a company led by Harold Simmons, also the chairman of Dallas-based Titanium Metals Corp. A trust controlled by Jerrold Perenchio, former chairman of New York- based Univision Communications Inc., also gave $1 million.  

FULL STORY HERE:


Tagged: ,


'Bloomberg: Super PACs Multiply as Companies Freed to Give' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.

12 + eighteen =

American Crossroads Watch.org Copyright 2014 All Rights Reserved