Get out those checkbooks. A big name just announced his intentions to spend big bucks to help sway the tide of the upcoming midterm elections.
Former New York City Mayor Michael Bloomberg wants to spend $80 million on the midterm elections in an effort to help Democrats win back control of the House of Representatives this fall.
Bloomberg’s 2018 plan, which was first reported by The New York Times and confirmed to CNN by his adviser Howard Wolfson, positions him as one of the largest donors to Democrats this cycle.
The news gives some relief to Democrats because elections, especially one this important and publicized, cost a lot of money. Even during legislative sessions, congressmembers spend some afternoons making phone calls for donations at the R.N.C. or D.N.C. headquarters, not to mention campaign fundraisers and campaign rallies. Elections require a lot of time and even more money.
While Democrats have shown some confidence heading into November, Bloomberg doesn’t want to take any chances and wants to do all he can to help what he thinks is a winning cause. A man that wealthy and power and politically connected can eclipse most of the House Republicans and their allies have been raising money. Bloomberg could be a response to some of the big spenders on the other side of the aisle, like casino magnate Sheldon Adelson, whose $30 million pledge to help House Republicans almost looks small compared to Bloomberg’s pledge.
In a statement, Bloomberg said Republicans had “failed” in their control of Congress.
“And so this fall, I’m going to support Democrats in their efforts to win control of the House,” Bloomberg said, changing course by not splitting his donations more or less evenly between the two parties.
“To be clear: I have plenty of disagreements with some Democrats, especially those who seek to make this election about impeachment,” Bloomberg added in his statement. “Nothing could be more irresponsible. But I believe that ‘We the People’ cannot afford to elect another Congress that lacks the courage to reach across the aisle and the independence to assert its constitutional authority. And so I will support Democratic candidates who are committed to doing both.”
In his statement, Bloomberg said he would support Republican and Democratic gubernatorial candidates in 2018.
Wolfson, a senior adviser to Bloomberg, will help steer the billionaire’s political efforts, CNN reports.
Wolfson said Bloomberg will focus his efforts on winning the House for Democrats because “he believes the House has been most dysfunctional and has failed most dramatically in its responsibilities.”
Bloomberg plans to spend the money through his own super PAC, rather than donating to Democratic Party committees or aligned groups, Wolfson said.