Here’s a piece of good news to start the week…
Restore Our Future, a Super PAC created to help support Mitt Romney (and combat Obama Super PACS) has raised a big, fat, wad of cash for The Gov.
The prolific group formed by former Romney aids, for the first six months of this year, has raised a whopping $12.3 million ($12.231,700 to be exact):
A political action committee that supports former Massachusetts Governor Mitt Romney in the Republican presidential primary raised $12.3 million from mostly big-money donors in the first half of this year.
The political action committee is an independent group that can run ads to bolster Romney’s bid and may not coordinate with his campaign. Its treasurer is Charles R. Spies, who was Romney’s general counsel in the 2008 Republican primary. Its board of directors includes Carl Forti, who was political director for Romney’s primary campaign three years ago.
Restore Our Future is one of two “Super PACs,” independent political committees that take unlimited contributions, that have been created to help a presidential candidate. Former White House officials have set up a similar organization to promote President Barack Obama’s re-election.
The Romney-friendly committee could give him an advantage in the Republican primary by running ads attacking his opponents, which would allow Romney to conserve resources for his campaign.
● Some of the donors: W. Spann LLC of New York, F8 LLC and Eli Publishing Inc. of Utah, J.W Marriott and Richard Marriott of Marriott International Inc, Louis M. Bacon of Moore Capital Management in New York, and John Paulson hedge fund manager. Another substantial, interesting donor was a homebuilder based in Texas – Bob Perry – who in the past, has donated money to Rick Perry (no relation).
More great news… Restore Our Future was very careful with expenditures:
The PAC spent just $22,329.50, money that went to business licensing, legal fees and insurance.
“We’re proud of the support Restore Our Future has received from across the country,” said Charlie Spies, the group’s treasurer.
“These donors recognize Mitt Romney is the most experienced and qualified candidate to challenge President Obama’s record of out-of-control, big government spending which has led our country to a historic $14 trillion debt and near double-digit unemployment. As evidenced by our report, we will continue to keep costs to a minimum to ensure that our donors funds go to accomplish our main mission, helping Mitt Romney defeat President Obama.”
● Maggie Haberman, senior political reporter for POLITICO, also wrote an article about the ‘pro-Romney super-PAC filings’. She characterized Jonathan Martin and Ken Vogel as “pouring through” the Super PAC’s records to ferret out who the donors were. After stating the number of donors, Haberman further nuanced her article with a quote from Martin/Vogel: “Other givers were even harder to unmask.”
Is Restore Our Future engaged in masked activity?
Super PACS are independent expenditure groups allowed to raise unlimited amounts of corporate or union money, as well as receive donations from individuals. In January 2010, the U.S. Supreme Court lifted a century-old limit on the amounts corporations, labor unions, or individuals can raise for elections – for or against a candidate – as long as their activity is independent of the candidate and campaign.
Some PACS reveal donors, such as the House Majority PAC. Others are organized under section 501(c)4 which doesn’t require donors to be revealed. Traditional PACS such as political parties and candidates’ campaigns do make public those who donate. Restore Our Future is FEC-registered which means all donors are disclosed.
● On June 29, 2011 ‘Priorities USA’, an Obama Super PAC, created by former White House advisors Sean Sweeny and Bill Burton, released a multi-state ad targeting Republicans. The ad aired in battleground states: Virginia, Iowa, Colorado, North Carolina, and Florida:
“We are Americans. We know right from wrong. And we know the ads blaming President Obama for the economy are politics at its worse,” the ad says[...] “The Republicans have opposed economic reforms at every turn.” [...]
wears masks does not disclose donors.
Maybe resident Politico detectives Jonathan Martin and Ken Vogel will dig in Obama’s Super PAC ‘Priorities USA’ (and sister PAC ‘Priorities USA Action’ which is required to reveal donors). Then, along with Maggie Haberman, perhaps the three of them will have more to write about.
● Restore Our Future (exactly what Romney will do) deserves a big, fat, THANK YOU!
► Jayde Wyatt