The Billion-Dollar Gifts Behind the Presidential Campaign

"White dudes for Harris" drew in over 4 million dollars to the campaign race. But alongside gifts from ordinary people, giant organizations, super-PACs, spend hundreds of millions on the election in the USA. One claims that they have the right to do so according to freedom of speech, says Dag Blanck, professor of North American Studies at Uppsala University.

» Updated: August 28 2024

» Published: August 03 2024

The Billion-Dollar Gifts Behind the Presidential Campaign
Photo: Adam Bettcher, John Bazemore/ AP /TT

A single American citizen can donate a maximum of $3,300 directly to a presidential campaign. "White dudes for Harris" a video call with 190,000 participants is the latest in a series of collections with many small contributions.

For larger campaign donations, parties also drive "joint fundraising committees" where the rules are looser.

But there are also so-called political action committees or "pacs". What distinguishes a "super-pac" is that they are independent organizations that can receive and spend unlimited amounts of money on political campaigning.

On paper, a super-pac is not allowed to coordinate directly with a candidate.

But it's really questionable, says Karin Henriksson, journalist and USA expert.

Super-pac doubled Harris donations

The influence of money in politics has been a hot issue for a long time in the USA. In 2010, the Supreme Court repealed the rules that limited how much companies and trade unions could spend on political campaigns in a notable case. They considered it their right under freedom of speech.

Future Forward is currently the largest super-pac that directly supports Kamala Harris, according to the independent research institute Center for Responsive Politics.

On the same day that Harris' campaign fund collected a record-high $81 million, Future Forward received donation promises of almost double, $150 million.

It was certainly part of the pressure on Biden to leave, that the donations were so hesitant, says Henriksson.

The money gives access

Of the super-pacs that openly support Trump, Make America great again Inc is the largest. How much they collected after the assassination attempt on the ex-president has not been communicated. But on June 30, their total collected funds stood at $201 million, while Future Forward then stood at $134 million, according to the authority FEC, Federal Election Commission.

How much do the money influence the candidates and what is expected in return? It has always been the criticism of the entire system. Naturally, those who give a lot of money also get access to the candidate, says Dag Blanck.

Actor George Clooney has over the years organized large collections in Hollywood for the Democratic presidential candidates. In a notable opinion piece in The New York Times, days before Biden's withdrawal, Clooney described how Biden at their last meeting was not the same as before.

Then he has obviously had some access to the president, says Blanck.

Fairshake: $203 million (Super-pac that promotes cryptocurrency)

Make America great again Inc: $201 million (Republican for Donald Trump)

Senate majority pac: $167 million (Democratic for Senate elections)

Never back down Inc.: $146 million (Republican for Ron DeSantis)

Future Forward: $134 million (Is a so-called hybrid-pac, Democratic supporting Kamala Harris)

Source: Federal Election Commission, figures up to and including June.

Tags

TTT
By TT - Translated and adapted by Sweden Herald under license from TT

More news

Dubai Chocolate Craze Drives Pistachio
1 MIN READ

Dubai Chocolate Craze Drives Pistachio Prices to New Heights

Volvo to Cut Up to
1 MIN READ

Volvo to Cut Up to 800 Jobs in US Facilities

Easter Eggs Evolve: More Companies
1 MIN READ

Easter Eggs Evolve: More Companies Join the Festive Trend

Survey Reveals Workplace Silence Affects
1 MIN READ

Survey Reveals Workplace Silence Affects One in Seven Employees

Swedes to Spend Nearly a
3 MIN READ

Swedes to Spend Nearly a Billion Kronor on Easter Candy

Indonesia to Boost Oil and
1 MIN READ

Indonesia to Boost Oil and Gas Imports from USA to Ease Trade Tariffs

European Stocks Gain Popularity as
3 MIN READ

European Stocks Gain Popularity as Investors Shift Focus from US

Asian Markets Show Mixed Movements
1 MIN READ

Asian Markets Show Mixed Movements as Investors Eye US Tariff Talks

Netflix Surpasses Market Forecasts with
1 MIN READ

Netflix Surpasses Market Forecasts with Strong Quarterly Earnings

United Health's Sharp Decline Weighs
1 MIN READ

United Health's Sharp Decline Weighs on Wall Street Indices

Civil Servant Strike Averted as
2 MIN READ

Civil Servant Strike Averted as New Agreements Reached

IMF Predicts Global Economy to
1 MIN READ

IMF Predicts Global Economy to Sidestep Recession Despite Trade Strains

Judge Rules Google Maintains Illegal
1 MIN READ

Judge Rules Google Maintains Illegal Monopoly in Digital Advertising

Electricians Secure New Deal with
1 MIN READ

Electricians Secure New Deal with Pay Raises and Shorter Hours

US Economy Shows New Signs
2 MIN READ

US Economy Shows New Signs of Weakness with Housing and Manufacturing Slumps

Jonathan Anderson Named Dior Menswear
1 MIN READ

Jonathan Anderson Named Dior Menswear Creative Director

Eli Lilly Shares Surge After
1 MIN READ

Eli Lilly Shares Surge After Promising Weight Loss Pill Results

ECB Lowers Rates Again, More
3 MIN READ

ECB Lowers Rates Again, More Cuts Expected This Year

Study Reveals Long-Term Economic Strain
1 MIN READ

Study Reveals Long-Term Economic Strain for Russia in Ukraine Conflict

Trump Claims He Can Oust
2 MIN READ

Trump Claims He Can Oust Fed Chair Powell Despite Lacking Authority

Hermes Increases U.S. Prices to
1 MIN READ

Hermes Increases U.S. Prices to Offset Tariff Impact

Trump Administration Halts New York
1 MIN READ

Trump Administration Halts New York Offshore Wind Farm Construction

Genre image
1 MIN READ

Pernod Ricard Sales Dip Due to Cognac Challenges in China

TSMC Reports Strong Q1 Results
1 MIN READ

TSMC Reports Strong Q1 Results with 42% Sales Increase

ABB Gains Despite Downturn in
1 MIN READ

ABB Gains Despite Downturn in Stockholm Stock Exchange

ABB Boosts Profit, Plans Robotics
2 MIN READ

ABB Boosts Profit, Plans Robotics Division Spin-Off

Asian Markets Rise on Positive
1 MIN READ

Asian Markets Rise on Positive US-Japan Trade Talks

SBAB Predicts Decline in Mortgage
1 MIN READ

SBAB Predicts Decline in Mortgage Rates as Repo Rate Expected to Drop

Trump Reports 'Great Progress' in
2 MIN READ

Trump Reports 'Great Progress' in Trade Talks with Japan

Nvidia's Warning Sends Wall Street
1 MIN READ

Nvidia's Warning Sends Wall Street Indices Tumbling

EU Launches Safety Sweep to
1 MIN READ

EU Launches Safety Sweep to Tackle Dangerous Products Online

WTO Report: Trump's Tariffs Could
1 MIN READ

WTO Report: Trump's Tariffs Could Cut Global Trade by 1.5% by 2025

Record Restaurant Bankruptcies in March
1 MIN READ

Record Restaurant Bankruptcies in March Highlight Industry Struggles

US Retail Sales Surge in
1 MIN READ

US Retail Sales Surge in March, Driven by Car Purchases

Northvolt's Acting CEO Pia Aaltonen-Forsell
1 MIN READ

Northvolt's Acting CEO Pia Aaltonen-Forsell Steps Down

California Challenges Trump's Tariffs in
1 MIN READ

California Challenges Trump's Tariffs in Court, Citing Illegality