POLITICS
10/15/2012 06:17 pm ET Updated Oct 16, 2012

Big Electric Companies Behind ‘Grassroots' Ad Campaign In Florida

Since August, a dark money group called Defend My Dividend has spent nearly $90,000 running ads on South Florida TV stations warning seniors about a looming increase in the tax rate on dividends.

"You worked hard, saved for retirement, and dividends are a big part of it," says one of the ads, which Defend My Dividend has posted on YouTube. "But if President Obama and Congress don't act this year, tax rates on dividends will spike, almost tripling in some cases." Time is running out, the ad intones, as phone numbers for Obama and Congress appear on the screen.

The spot directs viewers to a website that gives few hints about the group behind the ads, which is described as a "national grassroots advocacy campaign."

Read more on ProPublica

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