How political fundraisers increase contributions without going over the legal limit
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 7 May 2024
⏱️ 8 minutes
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Summary
How “joint fundraising committees” bring in hefty political donations without technically running afoul of contribution limits; plus, checking in on the Biden administration’s multi-billion-dollar plan to remove lead pipes — and improve drinking water safety — across the country.
Transcript
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| 0:00.0 | The Legal Way donors jump over limits on funding their favorite candidate. |
| 0:07.0 | I'm David Brancacho leading today with one of our check-ins on political donations in this election year. |
| 0:12.0 | Today, organizations with punchy names such as on political donations in this election year today organizations |
| 0:13.7 | with punchy names such as Biden Victory Fund or Trump's Save America. These are |
| 0:19.6 | fundraising outfits that make it possible to bring in lots of donations without running afoul of |
| 0:24.4 | contribution limits back in 2020 these joint fundraising committees |
| 0:28.5 | JFCs raised more than two and a half billion dollars according to open secrets which tracks campaign |
| 0:33.9 | finance data so far this election cycle they've pulled in one billion dollars |
| 0:38.7 | and counting for more I'm joined by marketplace the senior Senior Washington Correspondent Kimberly Adams. |
| 0:44.0 | Hey, Kimberly. |
| 0:45.0 | Hey David. |
| 0:46.0 | What are these things? |
| 0:47.0 | How is a joint fundraising committee different from a PAC or a candidate campaign. |
| 0:53.7 | You can think of them sort of as umbrella organizations. |
| 0:56.7 | They can include a candidates committee, a PAC or political action committee, national |
| 1:01.6 | party committee, state party committees, Convention Committees, the list goes on. |
| 1:05.8 | But the key thing is that while each of these groups has a limit to how much one person can |
| 1:11.2 | donate to them, when they connect under that umbrella of the joint |
| 1:15.0 | fundraising committee, they can combine all those limits together and ask donors |
| 1:19.9 | for one big check. I had Ki-Hong lead of the political law group at the firm |
| 1:25.5 | Scabden Arps. Walk me through some of the numbers for the presidential race. |
| 1:29.4 | You can give 41,,300 per year to the National Party Committee's main account. |
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