But even Cox was unaware of how extensively mutual PAC leadership exchanges were being used by GOP House candidates in 2020 113 Incumbent as well as 13 candidates seeking their first term. The diagram below illustrates the three rings of mutual swaps that stretched out from Valadao. He traded with 24 candidates in ring 1 who returned $ 65,600 to his campaign fund. These 24 in turn generated almost $ 1.2 million in converted funds for their campaigns through barter deals with each other and with 55 other candidates in Ring 2.
Jeff Burdick
The 53 Ring 2 candidates raised an additional $ 1.4 million in converted cash through their swaps. But in ring 3, the swap rate slowed significantly as only two out of 46 candidates made more than two swaps each. All in all, more than $ 2.8 million of PAC money from the leadership was turned into usable campaign funds, largely unnoticed.
“Leadership PACs have become that under-noticed arm of candidates,” said Sarah Bryner, director of research and strategy for the Center for Responsive Politics’ DC watchdog group. “Abuse is very, very difficult to regulate because the rules are so broad. Some executive PAC activities may even seem lazy to us, but are within the acceptable behavior of the FEC rules. “
Although Valadao served as the “ground zero candidate” for this exam, the $ 65,600 he grossed was far from the last cycle. Six House Republicans have raised more than $ 100,000 each from their swaps. At the top was Ann Wagner from Missouri, who received $ 148,200 from 33 candidates for her campaign committee. This was followed by Michael McCaul from Texas ($ 128,700), Rodney Davis from Illinois ($ 120,600), Andy Barr from Kentucky ($ 118,400), Jaime Herrera Beutler from Washington State ($ 117,000) and Richard Hudson of North Carolina ($ 105,900).