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Tuesday, October 14, 2014

"... the brothers are becoming willing to step out of the shadows and act as a more transparent and legitimate political player."

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For the First Time We Know Who Donates to the Koch's PAC
By Tess VandenDolder, October 14, 2014

The Koch brothers political powerhouse has always been mired in shadow. The brothers are known for creating organizations with a 501(c)4 status, which allows them to be politically active without disclosing the individuals and groups donating to the promotion of their political agenda. But over the summer the Kochs quietly launched their first super PAC, which allows them to run ads and campaigns in support of specific candidates, rather than issues, while also requiring them to release who their donors to this super PAC are.

In short, we finally have some idea as to who is funding the Kochs' conservative political agenda. The PAC, Freedom Partners Action Fund, has finally released their filings, revealing that the group has about $25 million to spend on political advertising for Republican Senate candidates.

Bob Mercer, New York hedge fund manager and co-CEO of Renaissance Technologies wrote the largest check to the PAC, coming in hot with a $2.5 million donation. Mercer is also a major donor to other conservative PACs like Club for Growth and Karl Rove's American Crossroads.

Ronnie Cameron, CEO of Mountaire Inc., the sixth largest poultry producer in the U.S. gave $1 million to the PAC, as did Diane Hendricks, owner of Hendricks Holding Company and the richest woman in Wisconsin, and Clarence Werner, founder of Werner Enterprises. In addition Charles and David Koch each donated $2 million to the PAC.

In total the Freedom Partners Action Fund raised money from roughly 650 donors since being launched in June, most of which were small donations under $200 dollars, which shows the reach of Kochs' ideology beyond just the billionaire set.

In the large scale of things, the Kochs' PAC is a small drop in the bucket of their vast political network. Their 501(c)4 group Americans for Prosperity is expected to spend at least $125 million this year. In total, all of Koch's political groups are expected have an impact of $290 million this election cycle.

The fact that the Kochs launched a PAC this year with disclosed donors however, shows that the brothers are becoming willing to step out of the shadows and act as a more transparent and legitimate political player. It also shows a new level of political savvy on Kochs' part, since now they will be able to overtly support the Republican candidates that back their policies.
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