Chris Cline, the billionaire coal baron, revealed himself today as the donor behind a $1 million contribution to a super-PAC supporting Jeb Bush’s presidential campaign….
Cline’s donation was listed as having come from a company known as Jasper Reserves LLC, about which little was known before Thursday beyond an address in downtown Charleston, West Virginia. In his statement, Glasser acknowledged that Jasper Reserves “is a Chris Cline company.”
The contribution also points to a loophole in the campaign finance system. Under current law, super-PACs can receive unlimited donations from individuals, corporations and other businesses, but they must regularly disclose their identities.
Using a shell corporation that’s not easily traced to its creator is one way big donors can avoid the disclosure requirement.