How a Trumpy Billionaire Is Single-Handedly Reshaping Campaigns

RSS NEWS Uncategorized

This Post was originally published here: Source Link

Photo Illustration by Elizabeth Brockway/The Daily Beast/Getty

When tech billionaire Peter Thiel pours his money into candidates, he isn’t just donating; he’s buying into a new strategy to reshape the way campaigns are run—a strategy that legal experts say is subverting traditional campaign laws.

Despite the way Thiel’s donations are often framed in headlines, he doesn’t give the bulk of his money to individual candidates. That’s largely because he can’t. Federal law caps individual campaign contributions at a comparatively low amount—$5,800 for a full election cycle.

Instead, the bulk of Thiel’s cash is going to outside groups called super PACs, which unlike campaigns can accept unlimited amounts of money, both from individuals and corporations.

Read more at The Daily Beast.