Congress resolved the shutdown and debt ceiling crisis (for now) by agreeing to hash out a budget agreement by mid-December. Already, hopes are dim. Budget experts say that if any deal at all is worked out to replace the deep budget cuts that went into effect in March, the most likely outcome will be a short-term plan involving slightly less severe spending cuts—but with no new revenue, a big Democratic priority.
On September 15, the fifth anniversary of the collapse of Lehman Brothers, progressives toasted a victory.
True, thanks to Congressional timidity, the biggest banks have only gotten bigger since the financial crisis five years ago, and the men (yes, mostly men) in charge of them are mostly still in charge. But Larry Summers, the architect of a good chunk of the deregulation that set the stage for the crisis in the first place, had withdrawn his name from consideration to be chair of the Federal Reserve, thanks to a populist uprising within the Democratic Party.
The crisis in Washington was always partly a story about money in politics, with big conservative donors pushing GOP lawmakers to an extreme stance with threats of primary challenges to those who didn't fall in line.
Now, even after the bid to defund Obamacare turned into an abject rout for Republicans, these same donors are making good on their threats.
Three and a half years have passed since the afternoon when the stock markets went into a trillion-dollar free fall and just as suddenly reversed course, recovering 80 percent of that loss. It all happened in less than 45 minutes.
The closer you look at the crisis in Washington, the more you can see how it's yet another story about money in politics. It's not just that congressional Republicans are running scared before big conservative donors who threaten to finance primary challenges, as I have written here and here.
The CATO Institute styles itself as the nation's leading defender of personal liberty, but don't count on these libertarians to watch your back in the face of any threats you may face from powerful private actors. No, CATO is only worried about threats posed by public entities.
The case is a challenge to the total cap on the amount that one wealthy donor can give to all federal candidates, parties, and PACs, known as “aggregate contribution limits.”
The Supreme Court can hardly be faulted for having docketed McCutcheon v. Federal Election Commission on the eighth day of a partial government shutdown that has all but crippled the national capital and separated hundreds of thousands of Americans from their jobs and paychecks.
WASHINGTON DC -- Today, oral arguments in the case of McCutcheon v. FEC brought protesters to Washington in an effort to urge the high court to uphold the constitutionality of aggregate campaign contribution limits, in the most significant big money in politics case since Citizens United v. FEC.
With a bad ruling, the Roberts Court could unleash more than $1 billion in McCutcheon Money from just 1,500 elite donors.
Americans are outraged over the power of money on our government. In Citizens United the Supreme Court already increased the dominance of the wealthy and special interests on politics and policy. Now, in McCutcheon v FEC, the court is being asked to strike down one of the few remaining campaign finance laws that we have to fight corruption of our democratic government. After all, in a democracy the size of your wallet shouldn't determine the impact of your voice or your right to representation.
Nearly four years after its controversial ruling in Citizens United v. Federal Election Commission, the Supreme Court is once again taking up the issue of the regulation of money in politics. This time, the risk to the integrity of elected officials, and public confidence in government, may be even greater.
The Supreme Court will hear arguments on Tuesday in McCutcheon v. Federal Election Commission, a case that's been dubbed "the next Citizens United." The plaintiff, GOP donor Shaun McCutcheon, and his conservative allies say the case is about getting rid of restrictions on political spending that stifle free speech.
If you think we need more money influencing politics in America, then today could be a great day for you.
The Supreme Court is hearing arguments this morning in McCutcheon v. Federal Election Commission (FEC), a case challenging the overall limits an individual can donate to political action committees, candidates and parties in a two-year federal election cycle.
Removing the limits on total campaign contributions by a single donor, a restriction now before the Supreme Court, would lead to a huge increase in giving by a small group of very wealthy Americans, according to a new report released Friday.
Our data sets were provided and cleaned by Public Campaign. For the purposes of this report, Public Campaign used federal campaign contribution data made public by the Federal Election Commission (FEC) and then refined and augmented by the Center for Responsive Politics (CRP).
The current “aggregate contribution limit” is $123,200 — as of this post, that's the total amount of money one wealthy individual is permitted to contribute to all federal candidates, parties, and PACs. The Supreme Court will consider this cap in McCutcheon v. FEC.
WASHINGTON – This Tuesday, as the Supreme Court hears oral arguments in McCutcheon v. FEC, activists and organizations across a wide spectrum of issues will speak out in support of protecting the integrity of our democracy at a rally outside the court. In the McCutcheon case, the Supreme Court will decide whether or not to strike down important caps on how much money an individual can contribute directly to political campaigns.
WHAT: Rally against big money in politics and McCutcheon v. FEC