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Dan Smith 202-461-3822
WASHINGTON - U.S. PIRG today released a new study, "The Money Chase: Moving from Big Money Dominance in the 2014 Midterms to a Small Donor Democracy," at a joint research summit with seven other major money in politics organizations. The study, which was written by U.S. PIRG and Demos, found that the top two vote-getters in the 25 most competitive districts in 2014 got 86 percent of their campaign cash from individuals giving $200 or more. Only two of the 50 candidates surveyed raised less than 70 percent of their individual contributions from big donors, and seven relied on big donors for more than 95 percent of their individual contributions.
"All too often, a handful of deep-pocketed donors gets to determine who runs for office, what issues make it onto the agenda, and too frequently, who wins," said Dan Smith, Democracy Campaign Director with U.S. PIRG. "Since most of us can't afford to cut a thousand dollar check to candidates for elected office, we need to counter the outsized influence of mega-donors by amplifying the voices of small donors."
"In 2014 big money called the tune in a system where the size of your wallet determines the strength of your voice and candidates without large donor networks find it impossible to keep up," said Demos Policy Analyst and report co-author Karen Shanton. "But it doesn't have to be this way. Matching small contributions with limited public funds can raise all of our voices and help candidates win by reaching out to average voters, not just big donors."
The report analyzed the U.S. House races in the 25 most competitive districts according to Cook Political Report PVI ratings. The data reveals that the 50 candidates in these races overwhelmingly relied on large contributions to bankroll their campaigns.
Other key findings include that candidates for the House must raise approximately $1,800 a day for two years prior to Election Day in order to match the fundraising of the median House winner in the 2014 elections. Candidates for the U.S. Senate must raise $3,300 every day for the length of a six-year Senate term to match the 2014 median winner.
The study also explains how this big money system filters out qualified, credible candidates from both parties who lack access to a network of large donors. Four candidates, who relied more on small donors but were significantly out-fundraised, are profiled in the report.
As Amanda Renteria - one of the candidates profiled, who lost in California's 21st district - explains, "given my network, where I come from, where I'm running, I expected that I wasn't going to have huge donors. You have to ask folks for help that have been in your network and that understand where you're running and why it's important. That for me ended up being a small donor base."
The report advocates for a federal program laid out in the Government by the People Act that would match small contributions with limited public funds, allowing grassroots candidates relying on small donors to compete with big money candidates. This type of program has already proven effective in New York City's 2013 City Council race. Once matching funds are factored in, candidates participating in the program raised more than 60 percent of their funds from small donors.
If a small donor matching program were in place for the candidates profiled in the report, one of them would have significantly out-raised her opponent, and the others would have narrowed the fundraising gap by an average of nearly 40 percentage points.
"When campaigns are paid for by big donors, those are the voices candidates hear the loudest. In a democracy based on the principle of one person, one vote, small donors should be at the center of campaign finance - not an afterthought," concluded Smith.
U.S. PIRG, the federation of state Public Interest Research Groups (PIRGs), stands up to powerful special interests on behalf of the American public, working to win concrete results for our health and our well-being. With a strong network of researchers, advocates, organizers and students in state capitols across the country, we take on the special interests on issues, such as product safety,political corruption, prescription drugs and voting rights,where these interests stand in the way of reform and progress.
One Democratic congresswoman called the partnership "a blatant move toward privatization."
U.S. Postmaster General Louis DeJoy's Thursday announcement that the independent United States Postal Service is partnering with the Department of Government Efficiency on a cost-cutting crusade that includes a planned reduction of 10,000 workers stoked fears that one of America's most trusted and relied-upon federal agencies is on a path toward privatization.
In a
letter to congressional leaders, DeJoy said DOGE will help the USPS "in identifying and achieving further efficiencies." The postal chief listed "mismanagement" of the agency's retirement assets and workers' compensation program, "unfunded mandates imposed on us by legislation," and "burdensome regulatory requirements restricting normal business practice" as issues to be addressed.
Scoop: Postmaster General Louis DeJoy agreed last nigh to collaborate with DOGE "to assist us in identifying and achieving further efficiencies." Follows Monday meeting at USPS headquarters between DOGE & DeJoy. We've reported Trump considering privatizing USPS or merging with Commerce Dept.
[image or embed]
— Jacob Bogage ( @jacobbogage.bsky.social) March 13, 2025 at 10:59 AM
"The letter suggests alarming actions for DOGE to pursue that would easily lead to the privatization and politicization of the Postal Service," Democrats on the U.S. House Oversight Committee said in response to the announcement. "This includes DeJoy's call to gut or even terminate the Postal Regulatory Commission, the independent regulator of the Postal Service created by Congress and responsible for approving rate changes and ensuring appropriate service."
Brian Renfroe, president of the nearly 300,000-member National Association of Letter Carriers (NALC), said Thursday that while "policy changes are needed to improve the Postal Service's financial viability... misguided ideas like privatization" are not the answer.
"Commonsense solutions are what the Postal Service needs, not privatization efforts that will threaten 640,000 postal employees' jobs, 7.9 million jobs tied to our work, and the universal service every American relies on daily," Renfroe added.
DeJoy—who last month announced his intent to step down after more than four years in office—has led a dramatic restructuring of the USPS, a constitutionally sanctioned agency. His tenure has been marred by allegations of criminal election obstruction, conflicts of interest, and other corruption. Critics have also warned that DeJoy's Delivering for America, a 10-year austerity plan, put the agency on a fast track toward slower service, job cuts, and, ultimately, privatization.
U.S. President Donald Trump has acknowledged that his administration is revisiting plans to possibly privatize the Postal Service—a policy recommended by the Office of Management and Budget during his first term. Last month, The Washington Postreported that Trump planned to fire the entire Postal Board of Governors and bring the independent USPS under control of the Department of Commerce, a move experts argue would likely be illegal.
Elon Musk, the de facto head of DOGE, said earlier this month that the USPS and Amtrak, the national passenger rail service, should be privatized.
DOGE's short but staggering track record of eviscerating federal agencies by dubiously firing tens of thousands of workers—a policy a federal judge found illegal on Thursday—is deeply concerning to many defenders of the Postal Service.
"The only thing worse for the Postal Service than DeJoy's Delivering for America plan is turning the service over to Elon Musk and DOGE so they can undermine it, privatize it, and then profit off Americans' loss," Rep. Gerry Connolly (D-Va.), the ranking member on the House Oversight Committee, said Thursday.
"This capitulation will have catastrophic consequences for all Americans—especially those in rural and hard-to-reach areas—who rely on the Postal Service every day to deliver mail, medications, ballots, and more," the congressman added. "Reliable mail delivery can't just be reserved for MAGA supporters and Tesla owners."
Rep. Nikki Budzinski (D-Ill.) said on social media Thursday: "Louis DeJoy just admitted he agreed to hand over the Postal Service to Elon Musk. This is a blatant move toward privatization, and I will fight to protect our postal workers and ensure affordable service—especially for rural communities."
Rep. Norma Torres (D-Calif.) said the agreement "threatens millions who rely on USPS for medications, Social Security checks, and staying connected."
National days of action in defense of the Postal Service are planned for
March 20 by the American Postal Workers Union and March 23 by NALC.
"While working people keep waiting for a single specific policy from the president to deal with exploding costs, his administration instead hatched an official crypto policy scheme that could conveniently enrich many top Trump officials," said one watchdog.
Last week, U.S. President Donald Trump signed an executive order creating both a "Strategic Bitcoin Reserve" and a "Digital Asset Stockpile" —his latest move to elevate and industry that he has a personal stake in. But the president is not the only person in the Trump administration who has ties to crypto, and a new analysis from the watchdog group Accountable.US details how some in Trump's orbit may have benefited or could benefit from this new crypto rollout.
"While working people keep waiting for a single specific policy from the president to deal with exploding costs, his administration instead hatched an official crypto policy scheme that could conveniently enrich many top Trump officials," wrote Accountable.US executive director Tony Carrk in a statement published Thursday.
U.S. Commerce Secretary Howard Lutnick, who has been involved in Trump's crypto efforts, has links to the firm Strategy, the biggest corporate holder of Bitcoin, through the financial firm he led for four decades, according to Accountable.US
After being confirmed as Secretary of Commerce, Lutnick handed over the reins of his firm, Cantor Fitzgerald, to his two sons, but Bloombergreporting from November cast Lutnick as an "executive whose grip on his various businesses is bolted tight."
U.S. Securities and Exchange Commission filings retrieved by Accountable.US show that Cantor Fitzgerald recently invested $1.58 billion in Strategy (formerly known as MicroStrategy). It's not clear whether Lutnick personally holds crypto assets, according to CNN, and Lutnick has agreed to divest his business interests.
Market analysts say that because of its Bitcoin holdings, Strategy is poised to be a major beneficiary of Trump's crypto reserve plan.
Also, Cantor Fitzgerald will be expanding its "Bitcoin financing services in the wake of Trump administration changes," according to Bitcoin Magazine.
Lutnick's involvement with Trump's crypto policy and ties to Cantor Fitzgerald might raise eyebrows, but so may other crypto holdings by cabinet secretaries detailed by Accountable.US's analysis.
Treasury Secretary Sean Duffy, Defense Secretary Pete Hegseth, Health and Human Services Secretary Robert F. Kennedy Jr., and Trump's nominee to lead the Centers for Medicare and Medicaid Services—Mehmet Oz—have collectively disclosed up to $7.7 million in holdings in Bitcoin, Ether, and Solana, according to Accountable.US.
Ether and Solana, in addition to Bitcoin, are coins that Trump has said would be in his "digital asset stockpile."
These four officials did not say they would divest these assets in ethics agreements they filed with the federal government, per Accountable.US, and may have benefited from the bump that crypto received following Trump's crypto reserve announcement.
The rise in value those currencies experienced after Trump posted about his crypto reserve on Truth Social on March 2 possibly helped their investments grow from a maximum of $7.7 million to over $8.5 million, according to Accountable.US.
Additionally, Treasury Secretary Scott Bessent, Director of National Intelligence Tulsi Gabbard, and Deputy Attorney General nominee Todd Blanche—who have said they will divest up to $1 million in crypto investments, but have yet to file certifications proving those divestments, according to the watchdog—could have seen their investments in "related cryptocurrencies" swell by a maximum of roughly $125,000 after Trump's post on Truth Social.
"Instead of standing with young and everyday people, Schumer is compromising on our lives and futures," said an 18-year-old who was arrested at the protest.
Protesters were arrested at U.S. Senate Minority Leader Chuck Schumer's Washington, D.C. office Friday morning while opposing the New York Democrat's plan to help congressional Republicans prevent a government shutdown with a stopgap funding measure that critics warn will further empower President Donald Trump and his billionaire allies, including Elon Musk.
The Sunrise Movement, a youth-led campaign to fight the climate emergency and create green jobs, said 11 protesters were arrested while urging the Schumer not to help the GOP advance the House-approved continuing resolution (CR). Although Republicans have a Senate majority, it is too slim to force final votes on most legislation without Democratic support.
"If Schumer prioritizes deal-making with Trump and Musk over standing up for the people, he is unfit to lead."
"Schumer must stand with working people and young people, not billionaires. This budget is a corrupt giveaway that sells out everyday Americans and our planet to Trump and Musk's greed. If Schumer prioritizes deal-making with Trump and Musk over standing up for the people, he is unfit to lead," Sunrise executive director Aru Shiney-Ajay said in a statement.
"We demand courage, not cowardice," she added. "This is bigger than politics. It's about protecting our communities, our democracy, and our planet from corruption and corporate greed. Schumer must fight back—now."
The protesters carried banners and signs with messages that included, "Schumer: Step Up or Step Aside," "Schumer: Don't Be a Coward," and "Our Future Is on Fire, Act Like It Is." The protesters echoed those messages.
"Instead of standing with young and everyday people, Schumer is compromising on our lives and futures," said 18-year-old Carly Bryant, who was arrested outside his office. "This bill guts services that working people like me need, just to make the rich richer. If Schumer won't step up and fight for us, he needs to step aside."
D.C. resident Ayesha Nagaria also accused Schumer of siding with Trump and "his billionaire agenda instead of communities across the country and in this city." The 22-year-old stressed that "the people of D.C. cannot afford to have our education and healthcare systems shut down, and Schumer is turning his back on us. If he won't have a backbone and stand up for us, we need to stand up for ourselves."
The GOP push to pass the CR before a shutdown begins at midnight comes as Trump and his billionaires—from Cabinet leaders to Musk, head of the so-called Department of Government Efficiency (DOGE)—are gutting the federal government. Although they are running into some roadblocks in court, the administration is also showing its willingness to ignore judges' orders. Meanwhile, Republicans in Congress are aiming to give the rich tax cuts by slashing programs for the working class.
Protesters who gathered at Schumer's home in New York City Friday morning shared similar messages, holding signs that said, "People Over Billionaires," "Schumer, Vote No or Go," and "Schumer: Do Not Comply in Advance, Say No to Cloture."
"I Wish AOC Was My Senator," read one sign, a reference to growing calls for Congresswoman Alexandria Ocasio-Cortez (D-N.Y.) to launch a primary challenge against Schumer. She has been a leading critic of his plan to vote for cloture, or to end debate.
While Ocasio-Cortez is a leading progressive, intense criticism of Schumer's position—that preventing a shutdown with this CR is the best of various bad options—is coming from across the "big tent" of the Democratic Party, including its House leaders.
The demonstration at Schumer's Brooklyn residence was organized by a local arm of the progressive group Indivisible.
The protest was "a testament to how many people are upset," Indivisible Brooklyn organizer Lisa Raymond-Tolan toldSalon, noting that hundreds of people "came out at 8 o'clock in the morning on a weekday to let the senator know that he is off course and capitulating to fascism—and we won't stand for it."
"He is not the leader for this moment," Raymond-Tolan told the crowd, according to Salon. "We need him to fight back or get the fuck out."
So far, in the Senate Democratic Caucus, only Schumer and Sen. John Fetterman (D-Pa.) had publicly made clear that they intend to vote "yes" on cloture, though Sen. Kirsten Gillibrand (D-N.Y.) is also widely expected to, after she was overheard "speaking quite loudly" against a shutdown during a Thursday lunch with colleagues.
Whatever happens with the CR and looming shutdown, there is now a movement to oust Schumer from Democratic Party leadership—and as of Friday it includes the "Pass the Torch" campaign that pressured former President Joe Biden to drop out of the 2024 contest.
"Chuck Schumer is unwilling and unable to meet the moment. His sole job is to fight MAGA's fascist takeover of our democracy—instead, he's directly enabling it," said Pass the Torch. "Americans desperately need a real opposition party to stand up to Trump. It's clear that will not happen as long as Schumer remains in charge of Senate Democrats. It's time to 'chuck' Schumer out. Chuck Schumer must resign as minority leader and make way for leaders who will actually fight for the American people."