Tuesday, January 31, 2012

Colbert's Super PAC Raises $1 Million

Posted By on Tue, Jan 31, 2012 at 12:49 PM

Super PACs have been a large focus of this election season, largely because of the ungodly amounts of money they are legally allowed to raise from individual donors—who don't have to be reported in a timely manner. That money can then be used in any way the group wants, from supporting its candidate of choice to attacking others.

Understandably, Super PACs have been the center of controversy, with many saying that it's the equivalent of buying a candidate. While Mitt Romney is well known to have Super PACs with the deepest pockets, Newt Gingrich now has a clear, and very wealthy benefactor, himself.

But today's the day when they all have to come clean. All Super PACs have until the end of the day to file their first annual report disclosing all donors.

Leading the pack of disclosures is comedian/TV host Stephen Colbert, who started his own Super PAC—Making a Better Tomorrow, Tomorrow—and announced he was running for president (for however brief a time) and handed control of the Super PAC over to fellow comedian Jon Stewart.

According to the disclosure filed with the Federal Elections Commission, Colbert's Super PAC raised more than $1 million. It was also accompanied with a letter that read, "I'm rolling seven digits deep! I got 99 problems but a non-connected independent-expenditure only committee ain't one!''

Colbert has been one of the leaders of the movement against Super PACs, using his celebrity and following the rules laid out by the FEC to make a point. He summed up his position in an interview with Ted Koppel on NBC's Rock Center with Brian Williams.

On his show, The Colbert Report, he told viewers: "We raised it on my show, and used it to materially influence the elections—in full accordance with the law. It's the way our founding fathers would have wanted it, if they had founded corporations instead of just a country."

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