Simply Politics & News

[basserdan]

BUSINESS PACS SHIFT MONEY TO SENATE GOP CAMPAIGNS

WSJ’s Rebecca Ballhaus and Amy Harder: “In a significant shift, business groups gave more money to Republican candidates than to Democrats in seven of the most competitive Senate races in recent months, in some cases taking the unusual step of betting against sitting senators. Political-action committees created by businesses had given 61% of their donations in those races to Democrats this election cycle through June. That reversed in the closing months of the campaign, with only 42% going to Democrats and 58% to Republicans in the July-to-September quarter …

“The change in money flow from business PACs is partly a signal of the groups’ policy preferences and partly a sign of expectations of who is likeliest to win. … Shifts in business donations have foreshadowed the outcome of several recent elections. Business PACs began shifting toward Democrats late in the 2006 midterm cycle, ahead of a political wave in which Democrats regained control of both the House and Senate. Business contributions swung again early in 2010, ahead of a wave that year that gave Republicans a House majority and gains in the Senate.”

http://on.wsj.com/1xCrGtL