Hollywood Ponies Up Big for Obama

Spielberg and Katzenberg Give 1M Each in Stretch Run

7 Figures: Steven Spielberg gave $1 million to a super PAC supporting the reelection of President Obama as the race heads to the finish line.
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7 Figures: Steven Spielberg gave $1 million to a super PAC supporting the reelection of President Obama as the race heads to the finish line.

By Reuters

Published October 20, 2012.

(page 2 of 2)

The Democratic PACs seeking to help candidates win House of Representatives and Senate seats also saw donations rise in September.

Majority PAC, the group helping Democratic candidates for the Senate, announced on Friday its biggest cash haul since its creation in 2010: $10.4 million in September, and another $9.7 million during the first week of October.

Its sister group, House Majority PAC, also had its best month in September and is on track to double that in October, an aide to the group said.

Democrats need a net gain of 25 seats to become the majority party in the 435-seat House, an outcome that most pollsters see as unlikely. Republicans need a net gain of four seats to take control of the Senate. Most pollsters also see that as unlikely.

Scores of Republican PACs and tax-exempt groups have been formed to support Republican House and Senate candidates. Tax-exempt groups do not disclose their finances; disclosures of the most influential Super PAC, American Crossroads, are due later on Saturday.

Restore Our Future, the PAC that supports Romney, reported on Friday that its largest donors included Texas home builder Bob Perry and billionaire Harold Simmons.

Perry gave $2 million in September and leads all donors with $10 million contributed to Restore Our Future during this election cycle. Simmons gave $500,000 for the month, increasing his total to the group to $1.3 million.

Republicans showed greater fundraising strength at the party level in September.

The Republican National Committee raised $48.4 million and ended September with $82.6 million in cash on hand. Its Democratic counterpart took out a large loan.

The Democratic National Committee, which has focused on races for the Senate and House, raised $20.3 million in September and borrowed $10.5 million. It ended September $20.5 million in debt, according to its filing with the FEC.

A DNC representative declined to comment on the reason for the debt and how it might affect Democratic candidates in the final two weeks before the election. The party had $4.6 million in cash on hand heading into October.

The RNC reported $9.9 million in debt at the end of September, with its $82.6 million in cash on hand.

Unlike the DNC, the Republican Party has been working closely with its presidential candidate, Romney, who heavily relies on its grassroots operation. On the Democratic side, Obama’s campaign has a huge grassroots organization itself and does not need such help from its party.



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