House Majority PAC, a group tied to dark money organizations and Democrat megadonors, will break its own spending records on its 2024 efforts.
House Majority PAC, a political action committee backing Democrats, will spend at least $186 million on federal races in 2024, according to the organization.
In a statement, HMP said the campaign will hit 58 different media markets.
Most of the spending, $146 million, will go toward television, and the remainder will go toward digital ad placements.
The group called it an “initial round of reservations,” setting up the possibility of more spending later in the year.
However, according to its announcement, HMP’s initial outlay of $186 million is much larger than the $102 million it spent in 2020.
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“Through these historic television and digital reservations, House Majority PAC has made it clear that we are ready to do whatever it takes to flip the House and elect Hakeem Jeffries the next speaker,” HMP President Mike Smith said in the statement.
After a slew of resignations, the Democratic Party holds 213 seats in the lower chamber while the Republican Party holds 218. As of April 8, there are four empty chairs.
HMP is planning to spend more than $1 million in 39 markets, according to its statement. Its top five markets are Los Angeles ($19.2 million); New York ($16.1 million); Portland, Oregon ($9.5 million); Detroit ($8.4 million); and Las Vegas ($6.8 million).
Dark Money, Union, and Megadonor Ties
According to HMP’s FEC records, the group raised about $61.1 million between January 2023 and February 2024. It had about $43.9 on hand at the end of February.
HMP is closely tied to House Majority Forward, which, as a 501(c)(4) nonprofit, is not required to disclose its donors or release financial information as often as an FEC-registered PAC.
For this reason, this type of nonprofit is commonly called a dark money organization.
In the current election cycle, covering 2023 and 2024, HMP has collected about $8.3 million in donations from House Majority Forward, according to the FEC.
HMP has also received significant donations from a group tied to the United Brotherhood of Carpenters and Joiners of America union.
According to FEC records, the super PAC Working for Working Americans-Federal sent HMP $7 million in the current cycle.
HMP is also cashing checks from Democratic Party megadonors James Simons and Fred Eychaner.
Mr. Simons, according to FEC records, gave $2 million to HMP in December 2023.
Mr. Simons, currently the president of Euclidean Capital, is one of the founders of hedge fund Renaissance Technologies.
Mr. Eychaner, according to FEC filings, gave $2 million to HMP in June 2023.
Original News Source Link – Epoch Times
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