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March 4, 2021
Joe Biden’s $1.5B campaign raised more money than any other presidential challenger in history, including $145 million in “dark money.”
President Biden’s record-breaking $1.5 billion campaign fundraising haul was boosted by millions in so-called “dark money” contributions from anonymous donors who are unidentifiable, according to a report. The $145 million he received dwarfs the $113 million in dark funds GOP Sen. Mitt Romney took in for his failed 2012 presidential bid against former President Barack Obama and the $24 million in dark money former President Donald Trump received. Priorities USA Action Fund, a super PAC that Biden identified as his preferred group for outside spending, used $26 million originally donated to its nonprofit arm, Priorities USA, to back Biden [Bloomberg].
Future Forward PAC spent $104 million to back Biden and received $46.9 million from Facebook co-founder Dustin Moskovitz and $2.6 million from Eric Schmidt, the former executive chairman of Alphabet, the parent company of Google. But Future Forward PAC also got $61 million from its nonprofit, Future Forward USA Action, Bloomberg said. The $1.5 billion Biden raised, a record for a challenger to a sitting president, included only $318.6 million from donors who gave less than $200 each. The rest came from contributors with deep pockets who gave as much as $825,000 — funds that were split between the Democratic National Committee and 47 state parties [NY Post].
Democrats have long condemned such fundraising because it allows the candidate to dodge any scrutiny about the source of their backing. Far-left “Squad” member Alexandria Ocasio-Cortez has been outspoken about dark money. In 2019, she took to Twitter to complain about dark money being raised for President Trump, and has started a PAC of her own. The Campaign Legal Center has called dark money “a serious threat to our democracy.” Another nonpartisan group that attempts to reduce the influence of money in politics, Issue One, says, “It is the most toxic force in politics.”
ARTICLE: LUKE MOCHERMAN
POLITICS EDITOR: CARSON CHOATE
PHOTO CREDITS: ALEX WONG/GETTY IMAGES