The Hillary Victory Fund is a joint fundraising committee for Hillary for America (Hillary Clinton's presidential campaign organization), Democratic National Committee (DNC), and 33 state Democratic committees. As of May 2016, Dana has raised $ 61 million in donations.
The IMF promotional material describes it as a way to "support Hillary Clinton and Democrats up and down tickets." Individual donations were first allocated to Hillary for Americans (up to $ 2,700 or $ 5,400 for married couples), then to the Democratic National Committee (up to $ 33,400) and eventually divided amongst party states. During the preliminary election, the state parties received little funding. Bernie Sanders' campaign criticized the IMF and alleged that Clinton's campaign was "plundering funds aimed at the country's parties to limit the fund-raising constraints of its presidential campaign."
Video Hillary Victory Fund
History
The Clinton campaign urged state leaders to join the IMF during the Democratic National Committee's summer meeting in August 2015. The launch of the fund was initially delayed by concerns from Clinton's campaign of party control over the money being distributed but advanced on September 10, 2015, as a partnership between the Clinton campaign and Democratic National Committee of the United States Democratic Party. The fund is the earliest fundraising coalition formed between the presidential candidate and the national party. Some officials on the national committee only realized the plan in the weeks before its launch. The 33 states were added six days later. Mississippi, New Hampshire, Virginia, and Wisconsin are among the first state committee of the Democratic Party to commit to the Victory Fund. The state, in turn, will receive money from funds and assistance with voter registration. Some states, such as California, Iowa, Nebraska, and Washington, chose not to participate. The Democratic Party of Utah chose to participate and his head said that state donations are expected to be sent to the national headquarters. Access to the fund "is legally available to every Democratic candidate", although only Clinton campaigns get direct access to large donors. A spokesman for the Democratic National Committee said the joint fundraising committee was designed to raise funds for use after the presidential election, and was no different from the winning funds of the two previous presidential elections. The results will be invested in the national voters list, the party budget of the country, and the expansion of research, digital, and communication systems.
The fund raised about $ 27 million by 2015 and received a "six-digit contribution from an old Clinton ally". Hillary Clinton attended her first Hillary Victory Fund event in early December 2015 with 160 participants. Musician Sting organizes events in New York. Tickets range from $ 33,400 per person to $ 100,000 per couple, and collect $ 8 million for the fund. The fund holds a second event, hosted by Elton John and Katy Perry at Radio City Music Hall, in early March 2016. George and Amal Clooney held a third fundraiser on April 15, 2016, at Bay Area home as venture capitalist Shervin Pishevar for Hillary Victory Fund where seats at the main table with Clooneys and Clinton cost $ 350,000. A fundraiser the next day at the Clooney family house has an entrance fee of $ 33,400 per person. (In comparison, other Clinton fund raisers without celebrities ask hosts to collect $ 10,000 to $ 50,000.) Participants at Clooney's mansion show include Kate Capshaw and Steve Spielberg, Jeffrey Katzenberg, and Haim and Cheryl Saban. Following the decision of the national committee to end the 2008 ban on federal lobbyist contributions, the International Business Times reported another event on March 21, 2016, hosted by Clinton campaign chairman John Podesta, Citibank lobbyist and News Corporation Steve Elmendorf, lobbyist pharmacy Jeff Forbes, and financial lobbyist Susan Brophy for Hillary Victory Fund. One donor can provide up to $ 700,000 for the fund.
Maps Hillary Victory Fund
Finance
Funds are managed by the Clinton campaign and the treasurer is chief operating officer of the campaign, Elizabeth Jones, who has a single policy for money transfer time. The Washington Post writes that the funds are operated in the Clinton campaign and run by campaign staff, who, in turn, are funded by Hillary Victory Fund. The money collected by the Fund is kept with the Amalgamated Bank, a bank belonging to the union that also hosts Hillary's account for America and the Democratic National Committee. The campaign said that state parties and other party campaigns would benefit from the deal as Republicans accept donations in "record numbers". The campaign sees itself as competing with "countless hundreds of millions of dollars spent with zero accountability by the super PAC".
The Hillary Victory Fund let the 2016 Clinton presidential campaign ask for large donors for more than $ 350,000 per calendar year, or $ 700,000 from married couples. The American presidential campaign has a working history of achieving the maximum legal donation from a single donor. In 2008, President Barack Obama's campaign called for a $ 30,000 donation from a large donor, which is a legal limit for donations to campaigns and related fundraising committees. In 2014, the Supreme Court case of McCutcheon v. The FEC was made on the basis of Citizens United's decision by deciding that the restrictions on the political contributions of a person as a whole are unconstitutional. This unregulated contribution to the political party committee is known as "soft money", and has caused corruption cases on both sides of the deviation in the 1980s and 90s before Congress banned its use in 2002. The 2014 Congressional Omnibus bill also collect donations of political party borders.
By 2016, a single donor to Hillary Victory Fund can donate $ 2,700 for the Clinton campaign, $ 33,400 to the Democratic National Committee, and $ 10,000 for each of the 33 state Democratic Party committees, for a total of nearly $ 360,000 in a calendar year. A joint finance committee such as the Hillary Victory Fund can receive the amount in one check and the corresponding proportion of funds. Donors that maximize their contribution by 2015 can also reach the maximum by 2016 for a total of $ 700,000 ahead of the 2016 election, which is 135 times the $ 5,400 personal limit for the campaign's contribution to the presidency. (For comparison, in the previous election cycle, individual donors are limited to $ 123,200 total contributions.)
The fund raised about $ 27 million by 2015. Individual donors who contribute more than $ 300,000 by 2015 include Susie Tompkins Buell, Fred Eychaner, J.B. Pritzker, Laure Woods, Avie Glazer, Jeffrey Katzenberg, Philip Munger, and Alice Walton. In September 2015, Hillary Victory Fund spent $ 800,000 on Clinton campaign fundraising and staff salaries, awarded $ 600,000 to the Democratic National Committee, and left $ 1.75 million to distribute. More than $ 4 million of funds go into direct mail and online fundraising for small contributions. Much of this material is similar to Clinton's campaign material and uses a campaign slogan. Hillary Victory Fund spends $ 6.4 million on operations by 2015, where two-thirds go to vendors affiliated with Clinton's campaign in Washington, D.C. By the end of 2015, $ 3.24 million goes to the Clinton campaign and $ 4.13 million goes to the national committee. From the latter, the state parties will receive $ 1.8 million, but the funds are transferred to the national committee to pay off the debt. Clinton and overhead staff salaries are paid $ 1.5 million from funds in 2015. The fund also runs Clinton's online store. In-store purchases do not count against maximum contribution.
Reception
Paul Blumenthal, a political reporter for The Huffington Post, notes that the super-joint fundraising committee is unusual. Candidates usually disagree for mutual fundraising until after securing a nomination. It was also the first fundraising committee since the 2014 fund raising reforms. The New York Times reported that some state party officials "objected" to the Clinton campaign in pairs with the national party before the candidate was formally elected. In comparison, the 2008 campaign fund did not start until June of the election year, and by February 2016, the National Committee of the Republic had not yet established a fund-raising committee together with its candidates. Some countries are hesitant to join the fund, which may appear as Clinton support and local donor exile, but national party officials describe the fund as "a way to strengthen the party at its roots". Clinton's opponents in the Democratic presidential primary complain of impartiality on the part of the national committee. While some Democrats questioned a joint fundraising strategy when the Super PAC Republic outpaced Clinton's campaign in fundraising, the New Hampshire state party chairman said it was never too early to prepare for elections.
The Washington Post reported in February 2016 that the Clinton campaign had received many financial benefits even though it was intended to be used in state party elections. The paper added that the initial organization of the fund was a demonstration of the maximization of a large donor-supported campaign. When Clinton's campaign against fellow prime candidate Bernie Sanders, the fund recruits new and small donors - a strategy described by campaign finance lawyers to The Washington Post as "unusual", since the joint fundraising committee is usually focused on big donors and fancy events. A former Federal Electoral Commission general advisor said that the structure of a joint fundraising committee is not meant to support a single candidate, and the funds appear to change the "traditional idea of ​​a joint committee into Hillary's fundraising committee". In February 2016, Sanders' campaign did not engage in active co-fund raising with the national committee, and deemed the fund to be a subsidiary to the Clinton campaign. The Sanders joint fundraising committee, the Bernie Trial Fund, is headed by the chief financial officer of the national committee, and the sole funding is a $ 1,000 contribution from the national committee. In March 2016, the Sanders campaign funded itself entirely through small donations and potentially not interested in the Victory Fund coffers if nominated.
In May 2016, Politico analyzed the Federal Election Commission's filing and found that the state parties maintained less than one percent of the $ 61 million collected by Hillary Victory Fund. While $ 3.8 million has been transferred to state parties, 88 percent are transferred back to the national committee, usually within 1-2 days, by Clinton staff members who lead the IMF. This allows the national committee to take money from people beyond the limits they can receive directly from individuals. The campaign received $ 15.4 million from the Fund and the national committee received $ 5.7 million. The vast majority of $ 23.3 million spent directly by Hillary Victory Fund has gone into activities that directly benefit the Clinton campaign, such as $ 2.8 million for personnel costs and $ 8.6 million in web advertising. This ad is run by the same company used by the Clinton campaign. Politico reported that state party officials were unhappy with the "one-sided" arrangement by which state parties were used to raise funds for the Clinton campaign while supporters exaggerated the good deeds of the state parties. The Clinton campaign and the national committee say that all branches of the party state will benefit from better national voter data.
According to Donna Brazile's book, "The Inside Story Hacks", the Collective Fundraising Agreement between DNC, Hillary Victory Fund and Hillary for America is the reason that the DNC chairman "can not write press releases without going through them." The agreement was signed in August 2015, which before Brazil became the interim seat of the DNC. Under the agreement, Hillary will take control of DNC's finances, strategies, and all. Also, the DNC will consult on all personnel, budgeting, data, analytics, and other letters.
Controversy
In December 2017, the Hillary Victory Fund was accused of participating in a $ 84 million money laundering scheme between the Clinton campaign, the Democratic National Committee, the Democratic state parties and the mega-Democrat donors who violated several campaign finance laws. The Committee to Defend the President - PAC super pro-Trump - filed a complaint with the Federal Election Commission, accusing Clinton of 2016 of the campaign and the Democratic Party of "unprecedented, large, national, multi-million dollar conspiracy." FEC complaints, which received significant media coverage, resulted in an ongoing FEC investigation in Fund fundraising history.
References
Source of the article : Wikipedia
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