Democratic Convention Receives More PAC MoneyBy Anupama Narayanswamy Aug 21 2008 1:01 p.m. 5 comments
More political action committees are giving to the Democratic convention scheduled for next week than the Republican one, to be held in September, according to the recently disclosed lobbyists contribution data available online with the Senate Office of Pubic Records. At least six company PACs have given more than $436,000 to the Democratic National Convention Committee so far, whereas, the Republican National Convention has attracted only $55,000 from company PACs.
The convention host committees often have a list of corporate sponsors, but because they are organized as a 501(c)(3), they can receive contributions from corporations and private companies and do not have to disclose them to either the Federal Election Commission or the Internal Revenue Service. But if the money is being donated by a PAC it has to be disclosed both to the FEC and under the new Honest Leadership and Open Government Act.
Among the top contributors for the Democratic convention is Hewlett Packard with about $300,000 as "in-kind contributions" for equipment. Other donations inlude $58,000 coming from the Alliance of Automobile Manufacturers and $50,000 from TW telecom PAC, which is controlled by Time Warner Inc.
The top contributors to the Republican convention so far is the AARP, with a total of $25,000, and other donors include another telecom giant, Viacom, and the Mortgage Bankers Association.
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