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4/27/15

US Politics: The Super Rich Have a New Way to Buy Elections - by Robert Faturechi and Jonathan Stray

The wealthiest Americans can fly on their own jets, live in gated compounds and watch movies in their own theaters.

More of them also are walling off their political contributions from other big and small players.

A growing number of political committees known as super PACs have become instruments of single donors, according to a ProPublica analysis of federal records. During the 2014 election cycle, $113 million—16 percent of money raised by all super PACs—went to committees dominated by one donor. That was quadruple their 2012 share.

The rise of single-donor groups is a new example of how changes in campaign finance law are giving outsized influence to a handful of funders.

The trend may continue into 2016. National Review recently reported that Texas Senator Ted Cruz’s bid for the Republican presidential nomination would be boosted not by one anointed super PAC but four, each controlled by a single donor or donor family.

The Supreme Court’s 2010 Citizens United ruling helped usher in the era of super PACs. Unlike traditional political action committees, the independent groups can accept donations of any dollar size as long as they don’t coordinate with the campaign of any candidate.

Previously, much of the focus in big-money fundraising was on “bundlers”—volunteers who tap friends and associates for maximum individual contributions of $5,400 to a candidate, then deliver big lump sums directly to the campaigns. Former president George W. Bush awarded his most prolific bundlers special titles such as “Ranger” and “Pioneer.”

Read more: The Super Rich Have a New Way to Buy Elections - The Daily Beast

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