Thursday, August 4, 2005
Soros-Backed ACT Fades
America Coming Together - the 527 group that raised nearly $200 million in a bid to drive so many Democrats to the polls last year that John Kerry couldn't possibly lose the White House - has shut down its national operation.
George Soros and Peter Lewis, the two Democratic fat cats who funded ACT with record-breaking contributions totaling $38 million, have quietly turned off the cash spigot, reports the Washington Post.
This week ACT began sending e-mails to its remaining staff, warning that their paychecks would stop at the end of August, reports the Washington Post. "All the state offices have been, or are soon to be, closed," the paper said.
Soros spokesman Michael Vachon told the paper that his billionaire boss "was disappointed by the outcome of the election."
"At the same time, he is very pleased with the work that ACT did," he added.
But apparently not so pleased that his wallet will remain open. Asked about future donations to an ACT-like group, Vachon said Soros's plans "are evolving and not yet nailed down."
Founded in 2002 as a way to circumvent McCain-Feingold campaign finance reform, ACT - along with its cousin, the Media Fund - raised $196 million from party fat cats, who, besides Soros and Lewis, included Hollywood moguls and wealthy labor unions.
The idea for ACT was hatched by top Clinton fundraising strategist Harold Ickes, who had helped raised oodles of suspect cash for President Clinton's 1996 re-election race. Working with Steve Rosenthal, who had been political director of the AFL-CIO, Ickes planned to target 17 key swing states that could shift the 2004 election to Democrats.
When his plan to create a "shadow" Democratic Party that could legally evade spending laws was first reported in August 2003, Ickes boasted cynically, "Welcome to campaign finance reform."
But after failing to engineer any major electoral successes, those halcyon days are gone.
For now, ACT will limit itself to voter research in Virginia, Rosenthal told the Post.
America Coming Together - the 527 group that raised nearly $200 million in a bid to drive so many Democrats to the polls last year that John Kerry couldn't possibly lose the White House - has shut down its national operation.
George Soros and Peter Lewis, the two Democratic fat cats who funded ACT with record-breaking contributions totaling $38 million, have quietly turned off the cash spigot, reports the Washington Post.
This week ACT began sending e-mails to its remaining staff, warning that their paychecks would stop at the end of August, reports the Washington Post. "All the state offices have been, or are soon to be, closed," the paper said.
Soros spokesman Michael Vachon told the paper that his billionaire boss "was disappointed by the outcome of the election."
"At the same time, he is very pleased with the work that ACT did," he added.
But apparently not so pleased that his wallet will remain open. Asked about future donations to an ACT-like group, Vachon said Soros's plans "are evolving and not yet nailed down."
Founded in 2002 as a way to circumvent McCain-Feingold campaign finance reform, ACT - along with its cousin, the Media Fund - raised $196 million from party fat cats, who, besides Soros and Lewis, included Hollywood moguls and wealthy labor unions.
The idea for ACT was hatched by top Clinton fundraising strategist Harold Ickes, who had helped raised oodles of suspect cash for President Clinton's 1996 re-election race. Working with Steve Rosenthal, who had been political director of the AFL-CIO, Ickes planned to target 17 key swing states that could shift the 2004 election to Democrats.
When his plan to create a "shadow" Democratic Party that could legally evade spending laws was first reported in August 2003, Ickes boasted cynically, "Welcome to campaign finance reform."
But after failing to engineer any major electoral successes, those halcyon days are gone.
For now, ACT will limit itself to voter research in Virginia, Rosenthal told the Post.
