Republican "SuperPAC" American Crossroads Raised $24 Million in Seven Months, Report Shows
It may be the highest-profile "SuperPAC" to emerge in the public eye since the Supreme Court opened up campaign finance rules: American Crossroads. According to records filed yesterday, as analyzed by "Open Secrets," the group raised an incredible $24 million in just seven months.
The giant haul was made possible to Supreme Court changes in campaign finance rules which allow some groups to raise unlimited contributions. American Crossroads is led by Steven Law. Also on his resume: he was "chief legal officer and general counsel" for the Chamber of Commerce.
How's that cash being spent? On Republican causes. How fast? Nearly $250,000 per day the first 13 days of this month.
Here are some other American Crossroads stats courtesy of Open Secrets:
* American Crossroads spent $16 million through Oct. 20 on political ads and other communications
* SwiftBoat Supporter Bob Perry has given $7 million, which is 47% of the group's total
* TRT Holdings of Texas and its CEO have together given $5 million
* The head of Public Storage has given $2.55 million this year
* Donald Trump donated $50,000 on Oct. 13
And that's not all. American Crossroads' nonprofit group, Crossroads GPS, is kicking in a lot of money as well. As a 501(c)4 nonprofit group, Crossroads GPS doesn't have to give details about its funders. But together, American Crossroads and Crossroads GPS have said they intend to spend a total of $65 million dollars before the elections.
Read the Open Secrets report here, and see Armen Keteyian's recent report on American Crossroads here.
Critical Contests: CBS News Election 2010 Race Ratings
