Millions From Maxed-Out Clinton Donors Flowed Through Loophole
By Bill Allison
August 26, 2016
When the Democratic National Committee announced its $32 million fundraising haul last month, it touted the result as evidence of “energy and excitement” for Hillary Clinton’s nomination for the White House and other races down the ballot. The influx of money, however, also owes in part to an unprecedented workaround of political spending limits that lets the party tap into millions of dollars more from Clinton’s wealthiest donors.
At least $7.3 million of the DNC’s July total originated with payments from hundreds of major donors who had already contributed the maximum $33,400 to the national committee, a review of Federal Election Commission filings shows. The contributions, many of which were made months earlier, were first bundled by the Hillary Victory Fund and then transferred to the state Democratic parties, which effectively stripped the donors’ names and sent the money to the DNC as a lump sum.
Of the transfers that state parties made to the DNC for which donor information was available, an overwhelming proportion came from contributions from maxed-out donors:
On average, 83 percent of the money that was sent from the state committees to the DNC in July originated with a donor who had already given the maximum $33,400 to the national party.
http://www.bloomberg.com/politics/graphics/2016-dnc-contributions/
Just throw that money in the washing machine and it comes out clean!
No comments:
Post a Comment