Super PACs Dominate Republican Primary Spending
South Carolina voters are being buried this week under an avalanche of combative and often nasty political commercials from super PACs, funded by a tiny group of super-rich donors with very particular interests in the state’s Republican presidential primary.Hedge-fund king John Paulson, who donated $1 million to a group backing former Massachusetts governor Mitt Romney, would very much like to see President Obama’s financial reforms repealed. The Marriott brothers, who also gave $1 million to a pro-Romney super PAC, have lobbied Washington for favorable tax and immigration policies through their hotel companies.
And casino magnate Sheldon Adelson recently dashed off a $5 million check to a group backing former House speaker Newt Gingrich (Ga.), marking what may be the largest single political contribution in U.S. history. Adelson is well known for supporting hard-line policies favoring Israel while also advocating measures that would benefit the gambling industry.