Possible Republican Leadership Represents $38 Million in Campaign Cash

For Immediate Release

Contact: 

Rick Bielke
Communications Director

(Ph)202.293.0222 | (Fx)202.293.0202

rbielke@publicampaign.org

Possible Republican Leadership Represents $38 Million in Campaign Cash

WASHINGTON - The six members of Congress now vying for Republican leadership in
the House—Reps. John Boehner (R-Ohio), Eric Cantor (R-Va.), Kevin
McCarthy (R-Ohio), Jeb Hensarling (R-Texas), Michele Bachmann (R-Minn.),
and Tom Price (R-Ga.)—represent roughly $38 million in campaign
contributions in the 2010 cycle alone, according to Public Campaign
analysis of data from the Center for Responsive Politics.

Some
of the biggest industries giving to these members in the 2010 cycle
include insurance ($1,551,374), securities ($1,378,833), commercial
banks ($570,600), and lobbyists ($496,362). This data includes
fundraising for their candidate committees and leadership political
action committees (PACs) through the first three cycles of 2010.

“The
Republican caucus achieved the majority with the help of tens of
millions of dollars in special interest cash. Big contributors invested
heavily in these potential caucus leaders,” said Nick Nyhart, president
and CEO of Public Campaign. “When these donors come calling for their
return on investment, voters better hope these leaders remember they
were elected by the people and not their big donors.”

Key data points:

  • Speaker-to-be John Boehner, whose close relationship with lobbyists “representing some of the nation’s biggest businesses“ was profiled recently by the New York Times, raised $11.1 million in 2010 for his candidate and leadership committees.
  • Potential Majority Leader Eric Cantor, who once bragged of the “buyers’ remorse” of Wall Street donors, received at least $726,450 from securities and investment firms in 2010.
  • Rep. Kevin McCarthy,
    who is running for majority whip, received at least $57,000 from
    lobbyists this cycle. He raised nearly $3.1 million overall, more than
    doubling his 2008 fundraising.
  • Rep. Jeb Hensarling,
    who is vying for conference chairman, raised at least $2,036,253 in the
    2010 cycle, including $126,650 from commercial banks, $106,450 from the
    securities and investment sector, and $23,350 from lobbyists.
  • Rep. Michele Bachmann,
    who will also run for conference chair, has raised at least $11,
    479,860 this election cycle. Including $77,000 from the insurance
    industry, $61,000 from real estate, and $40,050 from pharmaceutical
    companies.
  • Potential Policy Committee Chair Tom Price, who faces investigation
    by the House Ethics Committee due to his fundraising around the
    financial reform debate, raised at least $140,733 from securities and
    investment firms, the credit sector, and commercial banks.

 

“Until
we end this cash-and-carry system of campaign financing, voters will
never be sure who their members of Congress will represent in
Washington, D.C,” said Nyhart. “Leaders in both parties should look to
pass the Fair Elections Now Act to put elections back in the hands of
voters.”

The Fair Elections Now Act would allow
candidates to run competitive campaigns for office by relying on small
donations from people back home. Fair Elections candidates could focus
on their constituents and the many challenges facing our country instead
of dialing for dollars or attend fundraisers halfway around the
country.

Learn more at www.publicampaign.org.

 

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Public Campaign is a non-profit, non-partisan organization dedicated to sweeping campaign reform that aims to dramatically reduce the role of big special interest money in American politics. Public Campaign is laying the foundation for reform by working with a broad range of organizations, including local community groups, around the country that are fighting for change and national organizations whose members are not fairly represented under the current campaign finance system. Together we are building a network of national and state-based efforts to create a powerful national force for federal and state campaign reform.

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