Is Big Business reluctant to invest in Tea Party candidates?
One of the big stories of the 2010 elections is the record amount of campaign cash flooding into races, especially "independent expenditures" from corporate-backed outfits like the U.S. Chamber of Commerce ($12.4 million and counting).
But so far, corporate PACS and donors have been skittish about supporting the other big phenomenon of this election year -- candidates linked to the Tea Party movement -- suggesting a lingering divide between the Republican business establishment and the party's newly-energized grassroots base.
According to the Center for Responsive Politics, the candidacies of the 13 Tea Party-favored Republicans running for office in November are being propelled by donations of $200 or less:
The Center notes that typically, donations from small donors rarely account for more than 20 percent of a Senate candidate's campaign war chest.
By contrast, other Republican candidates are continuing to benefit from the generosity of corporate PACs and donors. On average, non-Tea Party Republicans are receiving 300 percent more than their Tea Party-favored counterparts from lobbyists and the energy sector, 200 percent more from finance, insurance and real estate interests, and 125 percent more from the general business sector.
Even the people and PAC of Koch Industries, the energy company whose generous funding of Americans for Prosperity helped launch the Tea Party cause, is holding back: Their average contribution to non-Tea Party Republicans is $8,350, but only $3,875 to the Tea Party enthusiasts.
That doesn't mean that corporate interests are standing on the sidelines in races involving Tea Party candidates. The conservative Club for Growth has funneled over $1.2 million into their campaigns.
The Center's analysis also misses several big "independent expenditures" that have been made by ostensibly non-partisan groups to support the Tea Party candidates, especially in recent weeks. In Florida, Rubio has received over $1.2 million in campaign support from independent groups backing his candidacy.
The Tea Party candidates are also being helped along by support from other conservative lawmakers: In late September, Sen. Jim DeMint's (R-SC) leadership PAC announced it was distributing $1.5 million to a handful of Republican hopefuls -- including most of the Tea Party candidates.
But so far, corporate PACS and donors have been skittish about supporting the other big phenomenon of this election year -- candidates linked to the Tea Party movement -- suggesting a lingering divide between the Republican business establishment and the party's newly-energized grassroots base.
According to the Center for Responsive Politics, the candidacies of the 13 Tea Party-favored Republicans running for office in November are being propelled by donations of $200 or less:
In Kentucky, Rand Paul, son of failed 2008 Republican presidential candidate and 11-term Rep. Ron Paul (R-Texas), reported $1.6 million in contributions from small donors as of June 30, the date of his most recent campaign finance reports. This represents about 46 percent of his overall total.
Former Florida House Speaker Marco Rubio has raised a staggering $4.6 million from individuals giving $200 or less -- or about 36 percent of his war chest -- as of Aug. 4, the date of his most recent campaign finance filings. Support from these donors helped Rubio gain momentum and push Gov. Charlie Crist out of the Republican U.S. Senate primary.
The Center notes that typically, donations from small donors rarely account for more than 20 percent of a Senate candidate's campaign war chest.
By contrast, other Republican candidates are continuing to benefit from the generosity of corporate PACs and donors. On average, non-Tea Party Republicans are receiving 300 percent more than their Tea Party-favored counterparts from lobbyists and the energy sector, 200 percent more from finance, insurance and real estate interests, and 125 percent more from the general business sector.
Even the people and PAC of Koch Industries, the energy company whose generous funding of Americans for Prosperity helped launch the Tea Party cause, is holding back: Their average contribution to non-Tea Party Republicans is $8,350, but only $3,875 to the Tea Party enthusiasts.
That doesn't mean that corporate interests are standing on the sidelines in races involving Tea Party candidates. The conservative Club for Growth has funneled over $1.2 million into their campaigns.
The Center's analysis also misses several big "independent expenditures" that have been made by ostensibly non-partisan groups to support the Tea Party candidates, especially in recent weeks. In Florida, Rubio has received over $1.2 million in campaign support from independent groups backing his candidacy.
The Tea Party candidates are also being helped along by support from other conservative lawmakers: In late September, Sen. Jim DeMint's (R-SC) leadership PAC announced it was distributing $1.5 million to a handful of Republican hopefuls -- including most of the Tea Party candidates.
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Chris Kromm
Chris Kromm is executive director of the Institute for Southern Studies and publisher of the Institute's online magazine, Facing South.