Rise of the One-Man PACs

Now that FEC rules allow political organizations to raise unlimited amounts of funds from individual and corporate donors, just a single individual or a handful of donors can finance their very own 527 Political Action Committee. But this is no longer a hypothetical matter as we are currently witnessing so-called Super PAC’s emerge with just one or a couple of wealthy donors. For example, the Concerned Taxpayers for America has spent close to a half a million dollars attacking incumbent Democratic Congressmen this election year. And according to FEC reports, it raised it’s $500,000 budget from just two donors:

Daniel G. Schuster Inc., an Owings Mills, Md., concrete firm, gave two donations to the group totaling $300,000, new disclosure records show. New York hedge fund executive Robert Mercer gave the group $200,000.

And that’s the extent of the financial support reported by Concerned Taxpayers, which says it was formed in September "to engage citizens from every walk of life and political affiliation" in the fight against "runaway spending."

While the Concerned Taxpayers for America just has two individual donors, the 527 organization RightChange.com has only one. According to the Center for Responsive Politics, “Fred Eshelman, the chief executive officer of North Carolina-based pharmaceutical research firm Pharmaceutical Product Development” donated $3.38 million to RightChange.com, which is “almost the entirety of the money the group has raised this year.” So far, RightChange.com has spent $3 million in ads supporting Republicans and attacking their opponents in competitive House and Senate races across the country.

And if you don’t want to funnel your money into a 527, you can just spend the money as an individual directly. In Tennessee’s eighth congressional district, Robert Kirkland spent close to $1.5 million on an independent expenditure campaign supporting his brother Ronald Kirkland in the Republican primary. Unfortunately for him, Ronald Kirkland won less than 25% of the vote and lost to Christian singer and farmer Stephen Fincher.