Connect with us

Hi, what are you looking for?

Fiscal OpulenceFiscal Opulence

Business

Top Dem committees are raking in millions more in dark money at this point in time compared to previous cycles

Top Democratic committees are receiving far more cash from anonymous sources at this point in the 2024 elections than in previous cycles, filings reviewed by Fox News Digital show. 

The Sen. Chuck Schumer-affiliated Senate Majority PAC and Rep. Hakeem Jeffries-aligned House Majority PAC have raked in millions in mysterious cash this year from their related nonprofits that conceal their donors’ identities. The money ultimately trickles to Democrats in both chambers of Congress, including lawmakers who rail against the impact of secret political donors.

Federal Election Commission records show that during the first six months of the year, Majority Forward, an advocacy group linked to the Senate Majority PAC, directed $8.75 million into the Schumer-tied PAC. Meanwhile, House Majority Forward, a nonprofit with ties to the House Majority PAC, has pushed $5.5 million into the Jeffries-aligned PAC.

The more than $14 million in dark funds between the nonprofits and committees is far more than at an identical point in the 2022 and 2020 elections. In 2022, Majority Forward wired $4.3 million to the Senate Majority PAC during the same time frame, while House Majority Forward did not make any transfers to the House Majority PAC. In 2020, neither nonprofit moved donations to the PACs this early into the election, but did send money for salaries, records show.

The moves occurred as Schumer regularly criticized dark money, which he says ‘corrupted our politics.’ He has also pushed conservative judicial groups to disclose their funders, as he and other Democrats have benefited from several dark money judicial groups of their own. 

According to Majority Forward’s most recent tax forms obtained by Fox News Digital, the group received $75 million between mid-2021 and 2022. House Majority Forward’s tax forms show that the group collected $12 million in 2021, which likely will ramp up as the election draws closer.

Senate and House Democrats are not the only ones positioned to benefit from unknown donors. President Biden appears set to benefit from immense sums in undisclosed contributions from the primary outside super PAC backing his 2024 candidacy despite his claims that dark money ‘erodes public trust.’

Biden’s team elevated the Future Forward PAC as the leading outside group to collect cash in support of his candidacy. Future Forward told the New York Times in July that it had raised $50 million this year.

The money, however, is likely parked in its related dark money nonprofit, Future Forward USA Action. The PAC reported just $67,000 in contributions during the first six months of the year, which came from a vendor refund and in-kind donations from the nonprofit for staff time and overhead. 

Future Forward’s nonprofit has moved tens of millions to the PAC for electoral activity in recent years, signaling Biden will also obtain a significant boost from anonymous patrons throughout the 2024 elections.

The Senate Majority PAC and House Majority PAC did not respond to requests for comment.

This post appeared first on FOX NEWS
Enter Your Information Below To Receive Trading Ideas and Latest News






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Business

    The head of a watchdog group that identifies acts of antisemitism says she and her team are stunned by the Jewish hatred being expressed...

    Stock

    SPX Monitoring Purposes: Long SPX 6/21/23 at 4365.69. Long SPX on 2/6/23 at 4110.98: Sold 6/16/23 at 4409.59 = gain of 7.26%. Monitoring Purposes...

    Business

    Fitch downgraded its credit rating for the U.S. government, from AAA to AA+, two months after the debt-ceiling crisis was resolved. “In Fitch’s view,...

    World News

    The 2012 Republican presidential nominating contest was a race unlike any other. For a time it seemed as if virtually everyone got a stint...