Despite legal rulings allowing companies, trade groups and unions to spend unlimited sums supporting political candidates, they still trail far behind wealthy individuals in political spending, a new study finds.
A study by the Conference Board’s Committee for Economic Development found that individuals made about 80% of all super PAC contributions in the 19 months through July 31. Companies contributed just 8% in the period and unions a mere 1.9%, according to the report slated for release Wednesday.
“It’s wealthy individuals that are really driving the large sums” being spent on elections, said Anthony Corrado, Colby College professor of government, who carried out the analysis. “There wasn’t this big pent up supply of corporate political spending that was looking for some way to be unleashed.”