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"The billions of dollars of donations these oligarchic clans give candidates, parties, and particularly outside spending groups drown out the voices and concerns of ordinary voters," according to the report.
The ever-growing amount of billionaire cash in elections is poisoning U.S. democracy, according to a report published Wednesday by the advocacy group Americans for Tax Fairness—which found that the top 100 billionaire families spent an eye-popping $2.6 billion on federal contests in 2024.
That's more than twice the roughly $1 billion spent by individual billionaire donors in 2020, according to the group, and constitutes 160 times the amount of billionaire political spending since the 2010 Supreme Court decision Citizens United v. Federal Election Commission. That decision paved the way for the proliferation of super political action committees (PACs), a type of committee that can accept unlimited donations to spend on political activity.
Picking apart that $2.6 billion, there's a clear partisan skew: 70% of that billionaire money went to entities supporting Republican candidates, while 23% went to entities backing Democratic candidates. The other 7% went toward independent candidates—such as presidential contender Robert F. Kennedy Jr., who is now a Cabinet secretary—and committees that gave to candidates from both parties who champion specific issues, such as cryptocurrency.
That skew is particularly pronounced when it comes to the competitive Senate races that determined control of the chamber in 2024.
Looking at Senate contests in Arizona, Michigan, Montana, Nevada, Ohio, Pennsylvania, and Wisconsin, the authors of the report found that nearly 80% of the total billionaire cash in these races—which tallied $1.14 billion in outside spending—went to outside groups supporting Republican candidates, compared to 20% used to support Democratic hopefuls.
"The billions of dollars of donations these oligarchic clans give candidates, parties, and particularly outside spending groups drown out the voices and concerns of ordinary voters, endangering democracy and distorting public policy," the report states.
What's more, "this undue influence by the billionaire donor class over our government—always a concern and already present in mostly indirect ways—has found its full, frightening expression in the second Trump administration with the ascendancy of Elon Musk, the world's richest man and the biggest billionaire donor in the 2024 elections," the authors wrote.
Musk's ability to convert his extreme wealth into political influence in the Trump administration contrasts with reports that Musk pays relatively little in taxes. In 2018, for example, Musk paid nothing in federal income taxes even as his wealth soared, largely due to Tesla stock appreciation.
But Musk is just the "most notorious example of billionaires literally buying power," according to the group. ATF highlighted that billionaire Linda McMahon secured a position as President Donald Trump's education secretary after she and her ex-husband gave tens of millions to support Republican candidates, as did billionaire businessman Howard Lutnick, now the commerce secretary.
The report, titled Billionaires Buying Elections: They've Come to Collect, is the latest in ATF's "billionaires buying elections" series, and according to the group it is the most comprehensive because it covers both direct billionaire giving and "traces the indirect routes billionaire cash can take through campaign committees contributing to each other."
In its methodology section, the report gives the example of WinSenate—a super PAC that works to elect Democrats to the Senate—which did not report billionaire contributions, but received all of its funding from the Senate Majority PAC. Because the Senate Majority PAC got 19.9% of its funding from billionaires, the report counted WinSenate's share of billionaire spending at 19.9%.
According to the report, other big-name Republican megadonors in the 2024 cycle included shipping supply magnates Richard and Elizabeth Uihlein and Israeli-American billionaire Miriam Adelson.
According to the authors of the report, billionaires need to be taxed more.
"Tax policy—which has the most direct impact on billionaire wealth—is perhaps the most obviously affected by the money-for-power billionaire bargain," according to the group, which cites the current Republican push to extend parts of Trump's 2017 tax cuts that primarily benefit the wealthy as part of a general trend in tax policy over the past four decades to decrease taxes on the wealthiest people and most profitable businesses.
"The self-reinforcing combination of booming billionaire fortunes and weakening campaign finance laws continues to threaten our democratic form of government," according to the report. "As the outcome of the last presidential campaign amply demonstrates, until billionaires pay their fair share of taxes and we put effective curbs on their political spending, this threat will only grow."
The report calls for solutions like bolstering the estate tax and implementing a wealth tax, such as the Ultra-Millionaire Tax Act, a bill that was reintroduced by multiple Democratic senators in 2024. The newer version of the legislation would place a 2% annual tax on the net worth of households and trusts between $50 million and $1 billion, and impose an 1% annual surtax—so 3% tax overall—on the net worth of families and trusts that is above $1 billion.
Rather than descend into reactionary advocacy that centers an untrustworthy, increasingly fascist government, we must go above and beyond Title IX, standing up for actionable, lasting solutions to sex-based discrimination in schools.
“Are you going to comply with that?”
The question came at a bipartisan governors’ meeting, lobbed unceremoniously by U.S. President Donald Trump toward Gov. Janet Mills of Maine. Gov. Mills is one of the few representatives of any political party or institution to defy a recent executive order barring transgender students from women’s sports—and to stand firmly and vocally against the weaponization of Title IX to advance a bigoted, anti-trans agenda.
“I’m complying with the state and federal laws,” she replied. And then—“See you in court.”
Even as we identify and invest in alternate approaches to protecting students from gender-based discrimination, we cannot grant right-wing politicians leeway to weaponize Title IX for their own political gain.
The exchange, though brief, and the rushed and retaliatory federal investigation that followed, echoed far beyond the White House as a rare but critical example of how state, local, and school officials must stand up for students in the absence of adequate federal protections against sex discrimination. And those federal protections have never been adequate.
It is high time to recognize that in practice—and without states and schools moving beyond compliance to true advocacy for their students—Title IX has never offered comprehensive, accessible solutions to gender-based violence. I should know: I’ve experienced Title IX’s failings as a student, an organizer, and a policy advocate working to change how schools treat—and advocate for—survivors.
I was a college student in the Obama years, during what should have been a progressive “golden age” for Title IX, the federal civil rights law prohibiting gender-based discrimination in publicly funded schools. The reality on the ground was marked less by progress than by confusion and chaos. When my peers sought support from our Title IX office, administrators called their reasonable requests for support “too difficult” to address. Without on-campus advocates, nearly 40% of survivors who reported abuse during this period experienced a substantial disruption in their education due to retaliation, institutional betrayal, and being pushed out of schools. Many survivors stayed silent.
When Betsy DeVos gutted Title IX protections during the first Trump administration, I joined the survivor- and youth-led project Know Your IX, where I worked with student activists whose horror stories under the Trump administration’s Title IX rule sounded eerily familiar. Survivors experiencing traumatic investigations dropped out of school—paying off student loans for a degree they would never get. Medical school students chose not to report abuse for fear of losing professional opportunities. Young people who had experienced dating abuse developed new mental health challenges, and their schools refused to grant accommodations. And though Joe Biden won the presidency in 2020, Trump-era guidance on how schools should enforce Title IX persisted throughout nearly the entirety of his presidency. President Trump moved to officially reinstate DeVos-era guidance, after appointing people who have caused sexual harm or been complicit in it (including Secretary of Education Linda McMahon) to the highest positions of power in our country. If it wasn’t already clear, it should be staggeringly so now: We cannot rely on the federal government to save us.
Rather than descend into reactionary advocacy that centers an untrustworthy, increasingly fascist government, we must go above and beyond Title IX, standing up for actionable, lasting solutions to sex-based discrimination in schools. Local organizing at K-12 schools and college campuses led by students and survivors offers one path forward. We can also fight for stronger state anti-discrimination policies that reflect the needs of marginalized students. And we can empower student groups with resources and training to support their peers in the absence of federal or administrative protections.
Most importantly, it is time for schools to take responsibility for protecting their students and act accordingly—regardless of state and federal policy, or how the president decides to interpret the 37 words that make up the statute of Title IX. While federally funded schools are required to comply with Trump’s Title IX rule, they can and should create separate anti-discrimination policies that fill in the gaps of the current Title IX rule. We should encourage schools to go above and beyond what federal law requires to protect students from sexual violence, and respond with care when it occurs.
Of course, in the absence of strong, federal legislation codifying students’ protections and schools’ responsibility to address gender-based discrimination, “sending education back to the states” creates an inequitable patchwork of civil rights protections, resulting in even more students experiencing traumatic disruptions to their education. While investing in school- and state-level organizing, we must build wide networks of support and mutual aid that persist no matter how hostile the environment. Groups like Know Your IX, now a project of the national youth activism organization Advocates for Youth, will continue to organize alongside brilliant and dedicated survivors and student activists holding their schools accountable and fighting for survivor-centered solutions.
Even as we identify and invest in alternate approaches to protecting students from gender-based discrimination, we cannot grant right-wing politicians leeway to weaponize Title IX for their own political gain. We must join Gov. Mills and shout from the rooftops that bigoted, transphobic attempts to attack marginalized young people through education policy will never be a solution to this country’s epidemic of sexual harassment and assault. We must hold strong in the face of increasingly brazen attempts from federal officials to curb students’ rights and retaliate against dissidence. If lawmakers actually cared about women and girls, they would bolster Title IX protections—not attempt to dismantle them.
Title IX was always the floor, not the ceiling. Now, it’s time to aim for the stars. Student survivors, LGBTQI+ youth, and pregnant and parenting people deserve nothing less.
"Education is power," said one advocate. "The forceful elimination of thousands of essential workers will harm the most vulnerable in our communities."
The nation's largest labor union, representing more than 3 million educators, is among several groups that filed a lawsuit against the Trump administration Monday to demand a federal court "immediately halt the government's attempt to dismantle" the U.S. Department of Education—warning that the move by President Donald Trump is clearly illegal and "puts at risk the millions of vulnerable students."
The National Education Association (NEA) said it is joining the National Association for the Advancement of Colored People (NAACP), AFSCME Maryland Council 3, and several public school parents in suing the administration days after Trump signed an executive order calling on Education Secretary Linda McMahon to take "all necessary steps to facilitate the closure of the Department of Education."
That directive followed the slashing of roughly half of the workforce at the Department of Education and the termination of $1.5 billion in contracts and grants for educational programs that had already been approved by Congress, and came a day before the president announced that $1.8 trillion in student loan debt would be overseen by the Small Business Administration instead of the DOE, while the Health and Human Services Department will direct programs for students with disabilities.
The administration has insisted the DOE is rife with "bureaucratic bloat" and waste—the same accusations Trump and his billionaire ally, Elon Musk of the so-called Department of Government Efficiency, have lobbed at programs like Social Security, Medicaid, and other services for low-income and working Americans as they've sought to secure $4.5 trillion in permanent tax cuts for the richest Americans.
The steps the administration has taken against the DOE "constitute a de facto dismantling of the department by executive fiat," reads the complaint filed Monday, noting that "the Constitution gives power over 'the establishment of offices [and] the determination of their functions and jurisdiction' to Congress—not to the president or any officer working under him."
"America's educators and parents won't be silent as Donald Trump, Elon Musk, and Linda McMahon try to steal opportunities from our students, our families, and our communities to pay for tax cuts for billionaires."
The attempted closure of the DOE is the latest of several actions taken by the Trump administration that violate the Constitution, said the NEA, because the department is a "congressionally created federal agency" and its dismantling "requires congressional approval."
Federal courts have blocked Trump's attempt to freeze federal grants and loans, noting that the president cannot halt funding that has been appropriated by Congress, and his deportation of Venezuelan immigrants to El Salvador under the Alien Enemies Act after opponents argued in court that Trump was "trying to write Congress' limits out of the act."
Aaron Ament, president of the Student Defense and Education Law Center, which is representing the plaintiffs in the lawsuit filed Monday, noted that McMahon "has acknowledged they can't legally shut down the Department of Education without Congress."
"Yet that is, for all intents and purposes, exactly what they are doing," said Ament, "a brazen violation of the law that will upend the lives of countless students and families."
Advocates have warned that while state and local governments oversee the vast majority of the U.S. public education system, shutting down the DOE jeopardizes funding an support for students who have disabilities, live in rural areas, and face discrimination.
It would also make it "impossible for the department to ensure that federal education funding actually is spent as Congress intended" and could "reduce access to Pell Grants, upend repayments for student loan borrowers, and invite fraudulent and predatory behavior from unscrupulous institutions of higher education," said the NEA.
The union's president, Becky Pringle, said Monday that "gutting the Department of Education will hurt all students by sending class sizes soaring, cutting job training programs, making higher education more out of reach, taking away special education services for students with disabilities, and gutting student civil rights protections."
"America's educators and parents won't be silent as Donald Trump, Elon Musk, and Linda McMahon try to steal opportunities from our students, our families, and our communities to pay for tax cuts for billionaires," said Pringle. "Parents, educators, and community leaders know this will widen the gaps in education, which is why we will do everything in our power to protect our students and their futures."
Derrick Johnson, president and CEO of the NAACP, said Trump's overarching goal in dismantling the DOE is "deliberately destroying the pathway many Americans have to a better life."
"Education is power," said Johnson. "The forceful elimination of thousands of essential workers will harm the most vulnerable in our communities. The NAACP and our partners are equipped with the necessary legal measures to prevent this unlawful attack on our children's future."