Money Disclosed in Super PACs, Except One
Posted at 11:50 a.m. on May 20
New federal financial reports from Super PACs continue to show the use of hundreds of thousands of dollars from individuals for impacting on the 2014 elections. However, the big exception is $250,000 from an unknown source that a Super PAC has not identified.
In a new filing from a Super PAC, New Republican.org reported it had receipts of $287,291 during April, of which $285,000 was contributed on April 24th by Californian John Jordan, CEO of Jordan Winery. The Super PAC spent $258,444 in April on independent expenditures supporting Monica Wehby, R-Ore., in the Oregon U.S. Senate race. The Super PAC was initially funded with $500,000 from members of the DeVos family.
New Hampshire Priorities, a Republican-oriented Super PAC, reported it had receipts of $174,025 during the first quarter of the year, with $174,000 being contributed by Portsmouth, N.H. businessman Peter Paul, chairman and CEO of Headlands Asset Management. The PAC spent $20,372 in March supporting Daniel Innis, R-N.H., in his New Hampshire U.S. House race.
The Spirit of America, a Republican-oriented Super PAC, reported it had receipts of $100,000 during April, with all of it coming from physicist Charles Munger, Jr. of Palo Alto, California. Munger founded the PAC and supports moderate Republicans.
The one major exception to Super PAC disclosures is the Mississippi Conservatives, a Republican-oriented Super PAC supporting Sen. Thad Cochran, R-Miss. For some unknown reason, the Super PAC has left hidden the identity of the owner of a $250,000 certificate of deposit (CD) at Trustmark Bank in Jackson, Mississippi. The CD was used to secure a $250,150 loan from Trustmark for the Super PAC to use in quickly making independent expenditures against Cochran’s primary opponent Christopher McDaniel, R-Miss.
The Super PAC has not disclosed the secret owner, even after a complaint was filed with the Federal Election Commission last week by the Tea Party Patriot Citizens Fund, a pro-McDaniel group. The complaint was supplemented yesterday charging new violations of federal laws, including failure of Trustmark, a national bank, to identify the owner of the CD that secured the bank loan, as required by the Uniform Commercial Code.
Today, the group also raised the issue of whether the funds are from a federal contractor. Some of the largest federal contracts to Mississippi companies come from the Corps of Engineers for water and development projects. The Senate and the House issued a conference report on Thursday for new funding of water projects. The U.S. House of Representatives is scheduled to consider today the Water Resources Reform and Development Act, which includes billions of dollars for projects around the country.