A $5 Million Check Fuels Super PAC
Posted at 3:58 p.m. on May 20
A Democratic-oriented Super PAC reported today it received $5 million from an individual for use in making independent expenditures in the 2014 elections.
The Senate Majority PAC, a Democratic-oriented Super PAC, reported it had receipts of $5.7 million from April 17th through April 30th. The major donor was Thomas Steyer, founder of Fahr LLC in San Francisco, California. Steyer gave the $5 million through his NextGen Action Committee. Steyer was also founder of the hedge fund Farallon Capital Management.
Steyer has reportedly stated he has budgeted $100 million for campaigns this year. Steyer is hosting Vice President Biden at a May 28th fundraising event at his San Francisco home. Steyer is an opponent of the Keystone XL pipeline.
Other large donors included William Little, chairman of George Little Management LLC in New York, New York. Little gave $150,000.Matthew Collins, CEO of 1 Source Consulting (VA) gave $100,000. Mark Headley, chairman of Matthews International Capital Management (CA) gave $100,000.
During the period, the PAC spent $401,021 against Senate candidate Thom Tillis, R-S.C., and $317,832 against Scott Brown, R-N.H. The PAC also gave $188,000 to Put Alaska First PAC.
Another Democratic Super PAC, House Majority PAC, reported it had receipts of $343,488 from April 1st through April 30th. The major donor was George Marcus, president of Marcus Millichap Real Estate (CA). Marcus gave $250,000 on April 25th. The PAC spent $357,695 against Evan Jenkins, R-W.Va.; $255,741 against Andy Tobin, R-Ariz.; $117,396 against Martha McSally, R-Ariz; and $25,445 against Michael Coffman, R-Colo.