The usual suspects placed bets on this year’s most competitive races
As of Nov. 28, twenty-eight Republican House incumbents were defeated by Democratic challengers in the 2018 election. The Republicans and Democrats drew from distinct sources of money.
|Top Industries for Defeated Republican Incumbents|
|Securities & Investment||28||$4,882,776||3|
|Oil & Gas||28||$2,366,573||9|
|Misc Manufacturing & Distributing||27||$1,362,064||16|
|Crop Production & Basic Processing||28||$1,150,777||19|
Republicans in these races depended heavily on fellow politicians —Leadership PACs were their #1 industry and Candidate Committees also made the top 20. These sources gave a combined average of over $285,000 to the endangered incumbents. Sometimes you don’t get by with a little help from your friends.
Beyond that, a wide range of industries supported these incumbents, including Lobbyists, Oil & Gas, Pharmaceuticals and a wide range of FIRE industries.
We see a different set of industries on the Democratic side.
|Top Industries for Winning Democratic Challengers|
|Securities & Investment||28||$8,849,125||3|
|Printing & Publishing||28||$1,913,635||12|
|Electronics Mfg & Equip||28||$1,643,145||15|
|Civil Servants/Public Officials||28||$1,161,182||19|
The Democratic challengers relied heavily on ideological donors —Democratic/Liberal groups averaged nearly $460,000 each to these candidates. Lawyers came in second.
On the other hand, they depended less on fellow politicians than their Republican opponents did. Multiple ideological industries made the Democratic list.
In addition, media industries such as TV/Movies/Music and Printing & Publishing were major sources of contributions. Education was also a major source of money. Like their Republican opponents, the Democrats also raised substantial sums from FIRE industries. No Labor industries made it into the top 20.
|Top Donors for Defeated Republican Incumbents|
|Ernst & Young||26||$273,400||2|
|Majority Cmte PAC||26||$260,000||4|
|Making America Prosperous||28||$260,000||4|
|American Bankers Assn||27||$255,750||6|
|New York Life Insurance||26||$254,475||7|
|Eye of the Tiger PAC||28||$220,500||13|
|National Beer Wholesalers Assn||27||$219,500||14|
|More Conservatives PAC||26||$215,000||17|
|Independent Insurance Agents & Brokers of America||26||$204,500||20|
Surprisingly, the biggest donor for the embattled Republican incumbents wasVoteSane PAC. VoteSane acts primarily as a conduit for campaign contributions and is bipartisan. Their two biggest recipients in 2018 were Joe Donnelly and Claire McCaskill, both Democratic Senators defeated in their bids for re-election. So they’ve backed losing incumbents for both sides.
Leadership PACs were well represented among the top donors. Kevin McCarthy’s Majority Committee PAC was fourth overall. Others included Kevin Brady’s Making America Prosperous PAC, Paul Ryan’s Propserity Action, Steve Scalise’s Eye of the Tiger PAC and Patrick McHenry’s More Conservatives PAC. A variety of business donors made up the rest of the list, including Koch Industries.
|Top Donors for Winning Democratic Challengers|
|University of California||28||$610,952||2|
|Akin, Gump et al||23||$276,915||8|
|AmeriPAC: The Fund for a Greater America||25||$246,800||9|
|Bessemer Venture Partners||17||$231,150||10|
|End Citizens United||26||$217,859||11|
|DE Shaw & Co||23||$211,165||12|
|Insight Venture Partners||18||$188,421||14|
|Tao Capital Management||16||$180,400||15|
|PAC to the Future||19||$160,000||17|
|New Democrat Coalition||24||$145,600||19|
|American Federation of State/Cnty/Munic Employees||21||$145,490||20|
Unsurprisingly, the top donor list for the Democrats is very different from the Republicans.
Alphabet Inc, the parent company of Google, tops an eclectic list of contributors. They managed to contribute to every winning Democratic challenger. The rest of the list includes multiple universities as well as multiple ideological donors and Wall Street firms. Two leadership PACs made the list — Steny Hoyer’s AmeriPAC and Nancy Pelosi’s PAC to the Future. Only one labor PAC — AFSCME — made the list.
Overall, the different sources of money reflect both partisanship and incumbency. The Republicans relied heavily on business donors, lobbyists and fellow politicians — the kind of donors you would expect to support both Republicans and incumbents. The Democrats in contrast relied heavily on ideological sources as would be expected for challengers, and education and media as would be expected for Democrats. Labor unions played a relatively minor role in direct contributions to these Democrats.
The post The usual suspects placed bets on this year’s most competitive races appeared first on no deposit bonus forex News.