And since late September, super PACs — which may raise and spend unlimited sums of money to advocate for or against political candidates — have been forming at a rate of about one per day. That’s only happened during one other similar period since the frenzied days immediately preceding the 2010 midterm election.
After together spending more than $65 million last election cycle, campaign finance watchers expect super PACs will easily pump nine figures worth of cash into federal races.
“It’s now the hot, new thing, and my reaction to all of this is, ‘All right!’” said former Federal Election Commission Chairman Brad Smith, who supports campaign finance deregulation and founded the nonprofit Center for Competitive Politics. “Super PACs broaden the playing field. They generate more political speech. Incumbents can’t just chase competitors away with a big war chest because these independent groups can act quickly and nimbly.”
2011 sees super PAC explosion
via politico.com
