With the Democratic Party in shambles and the DNC somehow always broke and demanding refunds from Hillary Clinton, Michael Bloomberg plans to peel off $80 million of his estimated $52 billion fortune to help Democrats retake the House of Representatives in the upcoming midterm elections, reports the New York Times, citing Bloomberg's advisers.
The former New York City mayor will focus on a dozen or so congressional districts, primarily in moderate suburban areas where Donald Trump is less popular in order to help Democrats gain the 23 congressional seats needed to win a majority.
Bloomberg,76, a political chameleon who turned Independent in 2007 while still running for Mayor on the Republican ticket, has been a champion of various liberal policies such as gun control, immigration and the environment.
He also tried to control the size of a soda New Yorkers could consume under the "Soda Ban" on sugary drinks in cups over 16 ounces - which was overturned by the New York Court of Appeals in 2014. Bloomberg spent millions to enact similar legislation in Chicago - except it was a tax and not a ban, only to have it repealed by city officials.
By siding so emphatically with one party, Mr. Bloomberg has the potential to upend the financial dynamics of the midterm campaign, which have appeared to favor Republicans up to this point. Facing intense opposition to President Trump and conservative policies, Republicans have been counting on a strong economy and heavily funded outside groups to give them a political advantage in key races, especially in affluent suburbs where it is expensive to run television ads. -New York Times
The Times reports that Bloomberg hasn't chosen a specific list of races yet, however he is obviously not likely to target rural, conservative-leaning districts where his anti-2nd-Amendment history and other issues would likely turn voters off.
Bloomberg's support will most likely make New York politics the centerpiece of the 2018 midterms, given the high profile politicians involved.
[Bloomberg's involvement] promises to put New York and its political leaders even more squarely at the center of a midterm campaign already stocked with prominent characters from the city, including a president who made his fortune in Manhattan real estate; the top Democrat in the Senate, Chuck Schumer; and Mr. Bloomberg’s predecessor in Gracie Mansion, Rudolph W. Giuliani, who serves as a lawyer for Mr. Trump. -New York Times
The former NYC mayor is on track to exceed that of Republican donor Sheldon Adelson - a Republican Casino mogul who recently donated $30 million to a super-PAC aligned with House Speaker Paul Ryan.
Statement of Mike Bloomberg on the 2018 Midterm Elections (emphasis ours)
I’ve never much liked political parties. I’ve always believed that we should put country before party. Too many politicians practice the reverse, with terrible consequences for the American people.
But although I don’t believe in partisanship, I very much believe in the importance of politics and elections. That’s how we make change and progress in a democracy.
Over the years, I have supported candidates in both parties who were willing to break with partisanship and the special interests and seek common ground around solutions to make America better. I’ve focused my philanthropy partly around bipartisan gun safety, environmental and immigration reform measures, and my political giving has been focused around those priorities as well.
In the last election, for example, I spent nearly ten million dollars to help a Republican, Pat Toomey, get re-elected in Pennsylvania. I disagree with him on many issues. But after the Newtown, Connecticut shooting, he broke with the NRA and co-wrote a bipartisan bill to close the background check loophole.
At the same time, I spent roughly the same amount to help successfully elect a Democrat in New Hampshire – Maggie Hassan – who was running to defeat a Republican incumbent who had voted against Toomey’s bill.
This year, I'm supporting both Republican and Democratic gubernatorial candidates who have shown strong leadership on gun safety, the environment, education, and other critical issues facing the country.
It’s unusual to support candidates of both parties in a robust way, but that approach has reflected my belief that democracy and government work best when people from both parties work together. There are good people in both parties, and neither has a monopoly on good ideas.
I've never thought that the public is well-served when one party is entirely out of power, and I think the past year and half has been evidence of that.
Republicans, who control both houses of Congress, have done little to reach across the aisle to craft bipartisan solutions – not only on guns and climate change, but also on jobs, immigration, health care, and infrastructure. As a result, Congress has accomplished very little.
In addition, and no less troubling, Congress has essentially stopped acting as a co-equal branch of government, by failing to engage in the kind of oversight of the law that the Constitution requires and the public expects.
In fairness, some Republicans have taken their constitutional and legislative responsibilities seriously, like my friend John McCain. But too many have been absolutely feckless, including – most disappointingly – the House leadership.
Republicans in Congress have had almost two years to prove they could govern responsibly. They failed. As we approach the 2018 midterms, it's critical that we elect people who will lead in ways that this Congress won’t – both by seeking to legislate in a bipartisan way, and by upholding the checks and balances that the Founding Fathers set up to safeguard ethics, prevent the abuse of power, and preserve the rule of law.
And so this fall, I'm going to support Democrats in their efforts to win control of the House.
To be clear: I have plenty of disagreements with some Democrats, especially those who seek to make this election about impeachment. Nothing could be more irresponsible. But I believe that ‘We the People’ cannot afford to elect another Congress that lacks the courage to reach across the aisle and the independence to assert its constitutional authority. And so I will support Democratic candidates who are committed to doing both.