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<b><small><small><small><small><a class="moz-txt-link-freetext" href="http://sunlightfoundation.com/blog/2016/04/06/dark-money-group-spends-200000-on-ads-opposing-puerto-rico-debt-bill/">http://sunlightfoundation.com/blog/2016/04/06/dark-money-group-spends-200000-on-ads-opposing-puerto-rico-debt-bill/</a></small></small></small></small></b><br>
<b><big><big><br>
Dark money group spends $200,000 on ads opposing Puerto Rico
debt relief bill</big></big></b><br>
<br>
by Josh Stewart<br>
April 6, 2016<br>
<br>
According to Sunlight Foundation’s Political Ad Sleuth tool, a
501(c)(4) dark money group called the Center for Individual Freedom
(CFIF) has purchased at least $200,000 in ads in the Washington,
D.C., market, an attempt to influence lawmakers crafting economic
legislation to assist Puerto Rico's dire financial situation. The
territory is currently struggling under enormous debt obligations
and is seeking help from Congress and the federal government.<br>
<br>
On March 29, Rep. Rob Bishop, R-Utah, chairman of the House Natural
Resources Committee, released a discussion draft of legislation
aimed at helping Puerto Rico deal with its debt crisis. Bishop
stated the draft legislation “provides Puerto Rico with tools to
impose discipline over its finances, meet its obligations and
restore confidence in its institutions.”<br>
<br>
According to its website, CFIF’s mission is “to protect and defend
individual freedoms and individual rights guaranteed by the U.S.
Constitution.” In a press release, CFIF says it opposes the draft
legislation and plans to run a national ad campaign opposing what it
calls “Super Chapter 9” bankruptcy. We don’t know how much is also
being spent on Internet ads or on cable, satellite and radio
advertisements.<br>
<br>
Because CFIF is a dark money group that is not required to disclose
its donors, we also don't know who is funding the ad buys. According
to Internal Revenue Service documents obtained by OpenSecrets,
Crossroads GPS — another dark money group tied to Karl Rove — gave
almost $5 million to CFIF since 2011.<br>
<br>
A review of nine different contracts shows ads will air on Fox, NBC,
ABC and CBS affiliates in the D.C. area. The biggest buy is on WRC,
an NBC affiliate, where ads will run on the local news as well as
during the Sunday, April 10, episode of "Meet the Press."<br>
<br>
The draft legislation is opposed by financial sector interests who
are seeking to protect their investment in Puerto Rico's debt.
According to The New York Times, a restructuring of the territory's
debt could risk billions for some the wealthiest investors around
the country. Many of these individuals are big donors to both
parties, too. According to the Times:<br>
<br>
A coalition of hedge funds and financial firms has hired dozens of
lobbyists, forged alliances with Tea Party activists and recruited
so-called AstroTurf groups on the island to make their case. This
approach ... has proved successful overseas, in countries like
Argentina and Greece, yielding billions in profit amid economic
collapse.<br>
<br>
The bill is already dividing both Republicans and Democrats, with
Speaker Paul Ryan, R-Wis., issuing a positive statement about the
draft, calling it “comprehensive.” At the same time, however,
conservatives in the House have started to pick apart the language
of the draft.<br>
<br>
This is not the first time a dark money group has tried to influence
policy around Puerto Rico’s finances. According to a 2014 report
from Politico, the American Future Fund — a 501(c)(4) with ties to
the Koch brothers — placed ads in “Wall Street Journal and POLITICO
attacking Puerto Rico Gov. Garcia Padilla.”<br>
<br>
According to lobbying data from OpenSecrets, in 2015 Puerto Rico
spent $1.8 million paying 23 lobbyists to make their case to members
of Congress on variety of issues, though only two bills were listed
on disclosure forms. One was a health care bill related to U.S.
territories, and the other was the Puerto Rico Chapter 9 Uniformity
Act of 2015.<br>
<br>
<div class="moz-signature">-- <br>
Freedom Archives
522 Valencia Street
San Francisco, CA 94110
415 863.9977
<a class="moz-txt-link-abbreviated" href="http://www.freedomarchives.org">www.freedomarchives.org</a>
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