Things are getting heated over in Raleigh in lobbyist circles as special interest PAC’s seek to be the last loophole standing when the budget is signed. If you want to follow the players in this scramble, check out Democracy NC’s new research report entitled NC Budget, Tax Loopholes & Special-Interest PACs
This report shows that 3 dozen of NC’s biggest political action committees (PACs) donated $7 million to state candidates and political parties in the last election – and now many of the groups are now scrambling to make sure their interests, including tax breaks worth at least $1 billion a year, are not harmed in the new budget being hammered out in Raleigh. The list of top PACs includes groups of developers, attorneys, university patrons, doctors, auto dealers, state employees, teachers, and beer wholesalers, as well as executives with blue-chip firms like Progress Energy, Wachovia, Blue Cross, AT&T, and Nationwide Insurance.
Our analysis shows that legislative winners in 2008 received 94% of the $5.7 million big PACs donated to all legislative candidates. The PACs also gave $770,000 to gubernatorial and other statewide candidates, as well as $590,000 to political party committees, much of which gets funneled into legislative races. . . access the entire report here. (The chart of PAC donations is on Page 4 of the report.)
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