FEC Reports 18 Month PAC Activity

Last week, the FEC reported on the 18-Month PAC Activity for 2006. The FEC's release of this data happens every six months during the election cycle and provides a good insight into the financial activity of large sectors of the PAC community. According to the FEC, federal PACs have:

• Raised $773.5 million
• spent $656.3 million (all told)
• contributed $248.2 million to federal candidates

These totals reflect a 23%, 27% and 21% increases, respectively, over activity in 2004.

The press release contains lots of links to tables and other data that can show more specifics.

Before anyone gets all riled up, this activity is completely legal and completely above board. By law, each federal PAC must account for every penny that comes in the door and every penny that goes out. There is no hiding the information.

PACs in general have profited enourmously in the McCain-Feingold era, since the law prohibits contributions by corporations and labor unions to anyting that may influence the election of federal candidates. As result, the practice of many corporations in teh pre-McCain-Feingold time of using coprorate funds were possible was replaced by an emphasis on raising money for the PAC. More and more federal PACs are raising an ever-increasing amount of money as the stakes become bigger and bigger in the political world.

In case you are wondering who raises the most money, it is EMILY's List--far and away. They raised $20,143,427 in the first 18 months of the 2006 cycles, more than twice than the nearest PAC, the SEIU, who raised $9,978,864.