Now that Tuesday’s FEC disclosure deadline has come and gone, there is renewed focus on where Super PACs obtain their funding. In an article for ABC News (Meet the Companies Behind the Super PACs), Chris Good collected information about the largest donors and came to a conclusion sure to surprise those of us who believe that the corporate takeover of our democracy is imminent:
The disclosures are a disappointment to anyone expecting salacious, multimillion-dollar superPACs donations by well-known companies. Most companies that donated to superPACs, the independent groups that can take in unlimited contributions from nearly anywhere as long as they don’t coordinate with candidates, were little-known firms, none were retail or consumer giants, and none gave over $1 million. They ranged from a lumber company in Edwardsville, Ill., to a real-estate company in Los Angeles to an international coal and petroleum-product shipping and processing company owned by a Koch brother.
But the superPACs are just getting started. The available data only reflects donations made through Dec. 31, 2011. Most superPACs activity has happened in the last month, and most superPACs didn’t organize or hit full stride until the latter part of 2011, with the exception of the pro-Mitt-Romney group Restore Our Future, which raised over $12 million in the first half of the year.
So far, the enormous donations from corporations bound to be responsible for subverting our democracy have failed to materialize. Although, as Chris notes, contributions are likely to increase as we draw nearer to the general election, it is worth noting that most of the money raised from the the super PACs detailed in the article did not come from corporations. We look forward to seeing if this proportion changes over time, or whether these super PACs remain as vehicle of democracy largely supported by non-corporate interests.
