Stunning Statistics of the Week:
- Less than $1 million: Amount spent so far by Priorities USA, the Super PAC created by a former White House aide to support President Barack Obama’s re-election effort
- More than $20 million: The amount spent by American Crossroads and Crossroads GPS, groups co-created by Republican strategist Karl Rove to promote GOP candidates
Insider trading bill picks up steam as groups call for reform
Seven good government groups are calling on Congress to prohibit lawmakers and their staffs from using insider information to make money in the stock market. A bill to do that is finally picking up steam in the wake of a recent 60 Minutes expose. The bill has languished for years, but now, lawmakers are leaping to co-sponsor it. Craig Holman of Public Citizen told USA Today, “this is a story that really resonates with a public that’s already upset with Congress.”
More large companies disclose political spending policies, but spending is still increasing
More large companies are disclosing their policies on political spending, but that spending is still increasing, according to a new report commissioned by the IRRC Institute and conducted by the Sustainable Investments Institute. Last year, S&P 500 companies spend $1.1 billion on politics.
Rep. Deutch’s constitutional amendment draws praise
Public Citizen enthusiastically applauds and endorses a constitutional amendment proposed by Rep. Ted Deutch(D-Fla.). It would comprehensively repair the damage done to our democracy by Citizens United, end corporate spending on elections and give Congress authority to adopt a sensible campaign finance system.
$805,000 spent – in just one week – to boost Huntsman
Our Destiny PAC has spent $805,000 – just since Monday – to help GOP presidential contender Jon Huntsman Jr. The Super PAC was formed by an executive at the Huntsman Corp., which was founded by the candidate’s father. The goal of the expenditure – which paid for ads in New Hampshire – is to boost the longshot candidate’s chances.
