George Soros Giving $2 Million In Political Donations To Progressive Groups

* Money will go to Super Pac, another organization

* Soros had largely remained on sidelines

By Alina Selyukh

WASHINGTON, May 7 (Reuters) - George Soros is pledging $2 million to two outside groups supporting progressive causes and helping President Barack Obama's re-election campaign and other Democrats running in November, a Soros advisor said on Monday.

Soros adviser Michael Vachon said in an email that the billionaire investor is concentrating his giving on grassroots organizing and "holding conservatives accountable for the flawed policies they promote."

Vachon said Soros has pledged $1 million to American Bridge 21st Century, a "super" political action committee, or Super PAC, that is largely focused on research and tracking Republican candidates.

Soros, one of the biggest donors to liberal groups, also will give another $1 million to America Votes, an organization that helps coordinate campaign-related activities for liberal groups nationwide.

"Both groups are part of a progressive infrastructure, or center-left establishment, that plays an increasingly important role in elections," Vachon said.

Super PACs are fundraising organizations that operate independently from individual candidate's campaigns and can raise unlimited amounts from individuals, corporations and unions and spend to support candidates or issues.

Soros for months has remained on the sidelines of the Super PAC frenzy that has marked the 2012 campaign. Super PACs have been raking in unlimited amounts of money from wealthy individuals.

But many Democratic givers staunchly opposed them and have not participated, giving Republicans a fundraising edge. Democratic fundraisers and groups, however, have said that other donors were watching for a signal from Soros before deciding whether to jump in.

Last year, Soros gave $100,000 to Majority PAC, a Super PAC helping Democratic Senate candidates. He also gave $75,000 to House Majority PAC, another Super PAC that focuses on putting Democrats in the House of Representatives.

In the 2004 elections, Soros was the biggest donor to the Super PAC predecessors, the so-called "527" groups. Those tax-exempt organizations were forbidden from "expressly advocating" for the election or defeat of specific candidates.

(Reporting Alina Selyukh; Editing by Philip Barbara)

Comments

[rdm443]

02:24 PM on 06/04/2012

he may have all the toys but this cat is living on borrowed time! all the money in the world will do you no good where ur goin!

[lw1]

11:57 AM on 06/28/2012

He donates to democracy so where are you goin?

[GRANDMAPATRIOT]

06:45 PM on 05/09/2012

This insane old man has multi billions and this is small pocket change for him. His goal is to RULE THE WORLD.......well my message to him is that at his OLD AGE he is galloping toward eternity and all the money in the world will not keep him from Hell. In fact ...it will help send him there in the blink of an eye.
He can buy all the demonic activity he wants on earth.....but the bottom line is he cant buy GOD.

[mortrefuge]

07:25 PM on 06/02/2012

Tell that to the Koch Brothers...

[Jerry Lammers]

03:48 PM on 05/09/2012

Another bored, tired OLD MAN, who still wants to run the world.

[VoteThemAllOut]

03:37 PM on 05/09/2012

So what else is new, Soros has been sending tens and tens of millions over the years to the dems for them to implement his ideas for utopia.

The dems are just a bunch of puppets dancing to his tunes.

[edejan]

02:52 PM on 05/09/2012

Hey, Dems. Pay attention! George Soros has realized that you have to play on the same field as your deadly opponents. If they can amass gigantic monies through superpacs...how can any of you refuse to do so? How else can you match them in ad buys and on-the-ground death matches? Thank you, Mr. Soros, for seeing the big picture. You along with Stephen Colbert's superpac may actually help lead the Dems to wins in the Fall. Work on finance reform after you've won back the house, retained the Senate and the Presidency!

[gypsynomad]

02:11 PM on 05/09/2012

So ?

[artgurrl]

01:51 PM on 05/09/2012

Well, Soros is absolutely right about Germany and the situation in Europe. Extreme austerity programs are going to create resentment with Germany since it is making the decisions about other countries in the EU and is at the same time prospering since they are the creditors. Merkel's let them eat cake stance to other EU countries in the debt crisis is going to come back and slap Germany if it goes on.

[scottsolem]

01:23 PM on 05/09/2012

If it was George W Soros the teabaggers would be confused and would tell us he was the greatest president ever.

[Gary Storch]

09:37 AM on 05/09/2012

Good for him.
The right wing ignores the Koch brothers involvement in our daily politics donating multi-millions to their hate groups and lie machines.
Whats good for the goose.....

[Carl Caroli]

09:28 AM on 05/09/2012

Thank you, Mr. Soros.

[xpt2wndj]

09:10 AM on 05/09/2012

Nothing like the anti- Christ throwing money at an Anti-American President.
Both should be going to jail.

[deadman449]

10:23 AM on 05/09/2012

Anti-Christ? really? Did not know religious fanatics believed in the Internet.

[Birdman 49]

02:02 PM on 05/09/2012

So should many on the right such as Bush, Congress, Koch brothers and so on.... Please lets not go there...

[shootr687]

06:54 PM on 05/09/2012

Best not, capital hill would be barren.

[lman2004y]

08:43 AM on 05/09/2012

George Soros says: "The United States Must Stop Resisting
The Orderly Decline Of The Dollar, The Coming Global Currency And The
New World Order."

☛ America is trillions of dollars in debt.

☛ Unemployment is almost 10% but some say the
real numbers are closer to 15%.

☛ Foreclosures are at an all time high.

☛ Congress is at its lowest approval rating
in decades.

☛ The Government has socialized some of
what was once the private sector.

☛ The dollar is on the skids and there is talk
of a new currency marker – perhaps the Iraqi Dinar?

☛ The FED, which has nothing to do with our Federal
government, has controlled the money supply in this country since 1917.

[traceymarie]

10:58 AM on 05/09/2012

dinar,privatized what exactly,your entire rants looks like a conspiracy manuel written by the birfbaggerstanners

[GOPisrightforareason]

06:23 AM on 05/09/2012

Gosh, that's a surprise. He took care of Russia, Greece and France...onto the US.

[traceymarie]

10:58 AM on 05/09/2012

rotflmao...more lies and innuendo from a birfbaggerstanner

[artgurrl]

01:42 PM on 05/09/2012

Pick one of the following to describe yourself after this statement you just made: a liar or completely ignorant of the facts. There are no other choices since what you stated is absolutely false and have no proof to back it up whatsoever.

[Mrreno7]

05:41 AM on 05/09/2012

Well, all you left winger should like Soros a marxist who believes in big government that should run our lives.... hmmmm.... just like Obama. It is the entitlement attitude that you all have that gives these extreme leftest groups more traction to destrory our country. Do you really think that anyone in their right mind would agree with our dictator's oh I mean Obama should be signing an excutive order that gives an international group authority over the US economy and Environment and would void the US laws related to buy American? You extreme leftests are losing your rights and the government is taking them before your very eyes and you repeatedly look the other way and support it. You get what you deserve, a bankrupt country, weak defense, welfare state, low generation of jobs, etc. but I for one don't like you idiots dragging the rest of us with you. Start thinking jerks!

[artgurrl]

01:46 PM on 05/09/2012

Except it wasn't left wingers who bankrupted America. It was over 30 years of supply side and libertarian philosophy of economics of deregulation, socialism for the rich and austerity for the middle class and poor that have bankrupted our country. It was your side that has been calling the shots for the last 30+ years. It was your side that have been controlling policy in this country. It is the right wingers in Wall Street who have been creating the laws and the neo-cons who have been passing those laws for their own power and wealth and paying off the politicians to do it. Your ignorance of facts are truly overwhelming.

[Mrreno7]

12:48 PM on 06/12/2012

Yes it is sir. Your ignorance of the facts that our country is in self destruct mode is amazing. You have an administration that lies and is more corrupt than any other one in my lifetime. Grow up will you and recognize what really is happening to our country.

[mgarrison0827]

04:56 AM on 05/09/2012

Mr. Soros, this is not a political comment, and I wondered if anyone else noticed, but if anyone in your camp is reading this (which I doubt but you never know), have your health checked. I can see you are very jaundiced from your picture. Have your liver checked immediately if you have not already done so.

[sixpackdan]

05:32 AM on 05/09/2012

NO let him die

[mgarrison0827]

06:52 AM on 05/09/2012

You are only jealous of his money. The man is a human being and you are obviously a cruel, sick excuse for one.