News Release

New Report Shows Impact of Big Money in the 2012 Election

For Immediate Release

READ “BILLION-DOLLAR DEMOCRACY” HERE

PHILADELPHIAIt took just 32 billionaires and corporations, giving an average of $9.9 million apiece to Super PACs, to match every single dollar that small donors gave to the Romney and Obama campaigns, according to Billion Dollar Democracy, a new report by PennPIRG and Demos. Those small donations, which amounted to more than $313 million, came from more than 3.7 million individuals.

“Americans who are wondering why it seems tougher to get ahead or even get a fair shake in today’s economy should look to big money politics for answers,” said Adam Lioz, report co-author and Counsel for Demos.  “When a tiny group of wealthy donors fuels political campaigns, they get to set the agenda in Washington, and the rest of us are left to argue over that agenda.”

“The first post-Citizens United presidential election confirmed our fears that the new unlimited-money regime allows well-heeled special interests and secret spenders to drown out the voices of ordinary citizens,” commented Angela Lee, state advocate for PennPIRG.

The report provides a detailed analysis of all federal election spending and fundraising by campaigns and Super PACs. The data uncovers the undue influence that large donors, business interests and secret spenders had in 2012.

For two of the 10 most active Super PACs, corporate donations accounted for a large portion of the funds, making up 18 percent of Restore Our Future and 52.6 percent of FreedomWorks for America’s total contributions.

“Allowing this special-interest money to fund attack ads on candidates distorts our democracy. Corporations are attempting to ensure that our elected officials put industry interests above the common good,” according to Lee.

Billion-Dollar Democracy also found that groups that do not disclose the source of their funds paid for nearly half of all television advertising in the presidential race.

”These dark-money groups hide key information from voters about where they get their money,” noted Lee. “Furthermore, because there’s no one to hold responsible for the content of their advertising, studies show that ads funded by dark money are far more likely to be misleading or just downright lying.”

The report concludes with policy recommendations for every level of government to ensure that ordinary Americans can make their voices heard in our political process. Mostimportantly, the report calls for a statewide resolution to overturn Citizens united and restore our ability to set reasonable limits on campaign spending.

READ “DOLLAR DEMOCRACY” HERE: http://pennpirg.org/reports/pap/billion-dollar-democracy

###

PennPIRG is a nonprofit, nonpartisan public interest advocacy organization that stands up to powerful special interests on behalf of Pennsylvanians.

Defend the CFPB

Tell your senators to oppose the “Financial CHOICE Act,” which would gut Wall Street reforms and destroy the Consumer Financial Protection Bureau as we know it.

Support Us

Your donation supports PennPIRG's work to stand up for consumers on the issues that matter, especially when powerful interests are blocking progress.

Consumer Alerts

Join our network and stay up to date on our campaigns, get important consumer updates and take action on critical issues.
Optional Member Code