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28 Jan, 2022 14:41

Soros stocks his war chest for Democrats ahead of midterms

The liberal financier has set aside $125 million to influence the upcoming midterm elections
Soros stocks his war chest for Democrats ahead of midterms

Liberal megadonor George Soros has funnelled $125 million into Democracy PAC, a political action committee aimed at supporting Democrats this November. Soros’ spending on this PAC already dwarves the millions he donated in 2020.

Soros announced his investment in a statement on Friday, first reported by Politico. The money will be used to support “causes and candidates, regardless of political party” who are invested in “strengthening the infrastructure of American democracy: voting rights and civic participation, civil rights and liberties, and the rule of law," the billionaire liberal stated. 

Although Soros pledged cash to candidates “regardless of political party,” the lion’s share will likely go to Democrats, based on Soros’ political views and past donations.

The donation means that Soros has already given Democracy PAC considerably more money than he did during the 2020 election cycle, which is unsurprising considering that polling shows Democrats will have to fight tooth and nail to preserve their control of Congress in November. During 2020, Soros gave Democracy PAC $80 million, which the PAC then disbursed to a myriad of causes and candidates.

Soros’ son Alexander serves as Democracy PAC’s president, and he told Politico how the family views this investment as a long term one, made necessary by the supposed “generational threat” posed to “our democracy” by the right.

Democracy PAC will publish its spending figures next week, after filling with the Federal Elections Commission. According to Politico, however, it has already sent $2.5 million to Senate Majority PAC and $1 million to House Majority PAC, aimed at preserving the Democratic hold on the Senate and House of Representatives respectively. Another $1 million has been sent to the Democratic Association of Secretaries of State, highlighting Soros’ interest in down-ballot races.

Secretaries of state oversee elections, and their role was made apparent in 2020 when it came time to certify an election that former President Donald Trump insisted was “rigged” against him.

Soros has also taken an interest in district attorney and sheriff races, pouring $17 million into these contests between 2015 and 2019 in support of far-left candidates. Some of these Soros-funded candidates now oversee prosecution in America’s major cities. 

On the other side of the aisle, Trump’s Save America PAC has already raised nearly as much cash as Soros’ Democracy PAC did in 2020, and currently has around $60 million on hand. This cash, combined with Trump’s endorsement of conservative candidates, will be a powerful counterbalance against Soros’ near-unlimited resources as the 2022 spending war heats up.