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Doing our best to model the millions of dollars flowing between PACs that are funded primarily by options trader/school privatization champion Jeff Yass – and fueling the Commonwealth Partners-affiliated PA Republican political spending juggernaut. Deep dive in the thread below…
This is basically a visual rep. of the spending described in @StephenJ_Caruso’s article. Yass has given >$9 mil to Students First PAC since the start of 2019, much of which has been used to support Republicans running for various state offices. https://www.penncapital-star.com/election-2020/as-democrats-aim-to-flip-the-house-a-top-lawmaker-took-600k-from-school-choice-donor-spending-to-stop-them/
Students First PAC has sent $8 million to Commonwealth Children’s Choice Fund since 1/1/19, which has then sent $4.25 million to Commonwealth Leaders Fund. Along the way, each PAC has donated $ to campaigns, transferred $ to other PACs, and spent $ on consulting and advertising.
Numbers in the diagram are updated as of yesterday 10/28, with caveat that the Commonwealth PACs' Cycle 5 filings have yet to be posted. Their Cycle 5 contributions to campaigns should mostly be included though, since they were included in the campaign committees' filings.
While Students First and Education Opportunity PACs have supported some Democrat candidates, all of the spending by the Commonwealth PACs, Citizens Alliance of PA PAC, and PA Prosperity PAC have supported Republicans.
Many of the FB ads run by Commonwealth Leaders Fund try to blame “Phila. progressives” for businesses being closed across the state, as opposed to an irresponsible Repub. state legislature that has obstructed the governor’s plans to reduce COVID spread.
https://www.facebook.com/ads/library/?active_status=all&ad_type=all&country=US&view_all_page_id=108162940871582
https://www.facebook.com/ads/library/?active_status=all&ad_type=all&country=US&view_all_page_id=108162940871582
The Commonwealth Leaders Fund ads claim to speak for “working families,” while they are funded primarily by an options trader, Jeff Yass, who has made his entire fortune from speculating on stock prices rising or falling. https://www.phillymag.com/news/2009/08/26/beating-the-odds/2/
Yass is a prolific political donor at the national level too – he has donated millions to support Sen. Rand Paul (proponent of a flat income tax) and is the 2nd largest donor to groups supporting Amy Coney Barrett’s confirmation. https://readsludge.com/2020/10/05/billionaire-oligarchs-and-anonymous-megadonors-behind-amy-coney-barrett-ads/
While Yass has propped up charter and voucher-friendly politicians in PA, companies affiliated with his firm SIG have taken advantage of tens of millions of $ in tax credits for donating to scholarship programs for private and charter school students. https://www.inquirer.com/philly/news/politics/mayor/20150403_Mayoral_hopeful_Williams__hallmark_law_was_most_widely_used_by_his_supporters.html%23disqus_thread
By combining state credits with federal tax deductions, companies can actually turn a profit from these tax credit for scholarship donation programs. https://www.nytimes.com/2017/05/17/us/politics/in-some-states-donating-to-private-schools-can-earn-you-a-profit.html
PA’s educational tax credit programs have been criticized for reducing funds that would otherwise be available for public school districts, while also failing to offer transparency regarding the demographics of students receiving scholarships. https://www.penncapital-star.com/education/eitc-explained-how-pennsylvanias-educational-tax-credit-program-works/?fbclid=IwAR2y-QXf7Lv6s9hM9jt5dej0XzKQITTNnnlrbYmHFilbLY-0y_WLaJ2IJhg
Nevertheless PA’s education tax credit programs have repeatedly been expanded, thanks in part to support from some high-profile Democrats who are also financially supported by Students First, such as State Sen. Anthony Williams and State Rep. Jordan Harris https://www.phillyvoice.com/ties-between-williams-campaigns-charter-schools/
One of the largest backers of the EITC has been the Koch-funded Commonwealth Foundation, whose former Pres/CEO Matt Brouillette founded Commonwealth Partners. He is Treasurer of both Commonwealth Children’s Choice Fund and Commonwealth Leaders Fund PACs. https://thecommonwealthpartners.com/matthew-j-brouillette/
Brouillette has supported Reopen PA rallies and mocked essential workers’ lack of access to PPE, while his PACs have donated tens of thousands to candidates such as Doug Mastriano, Cris Dush, and Andrew Lewis who have pushed for reckless reopening. http://www.paspotlight.org/2020/the-dark-money-behind-pennsylvanias-reopen-rallies/
Commonwealth Leaders Fund has used racist and anti-Semitic dog whistle attack ads, taken opponents’ words out of context, and flirted with conspiracy theories relating to COVID-19. http://www.paspotlight.org/2020/the-commonwealth-foundations-insidious-connection-to-the-commonwealth-leaders-fund/
The primary funding source of all this has been a billionaire who lives in the Main Line Philly suburbs and manages Susquehanna International Group, with HQ on City Ave. SIG, with a heavy tech focus, is a major recruiter on local Philly college campuses.
