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Coke Donates to Romney Super
27 Aug 2012 09:40 AM
By Stephen Hirson
Atlanta, GA (AP) — Coca-Cola became one of
the biggest corporate financial backers of Mitt
Romney after announcing they are donating
$2.5 million to Priorities USA – a national
political action committee (Super PAC)
working to elect Romney for President. Super
PACs are independent organizations that
raise money for various political issues and
"The support is very important for us," said
the Super PAC’s campaign manager Zach Silk.
"It puts us in position to win."
The company is just one of many to enter into
politics this election. Other companies that
have given to other Super PACs include
AT&T, DreamWorks, Microsoft, and Google.
Some of these include Super PACs working to
raise money to re-elect President Barak
“We’re at a tipping point, and Coke really understands this. They are very much supportive of
leaders who will work to support economic policies that generate American jobs and invest in the
American economy” said Silk.
Coke spokesman Drew Herdener said the
donation was a decision that "the company
feels strongly about" and “they gave it
because they believe it’s the right thing to
Silk and officials with two Super PAC
organizations — National Organization for
the Future and Freedomeworks for America
— say Coke's $2.5 million donation is the
largest publicly reported corporate gift in
support of a candidate.
Prior to Coca-cola's gift, Priorities USA had raised $25 million though Silk said the group
hoped to raise $30 million. "Maybe it's time to raise our goal," Silk added.
In 2010, the United States Supreme Court held in Citizens United v. Federal Election
Commission that laws prohibiting corporate and union political expenditures were
unconstitutional. Citizens United made it legal for corporations and unions to spend from
their general treasuries to finance independent expenditures.
Super PACs have already played a major role in the 2012 presidential election, spending more
than the candidates' election campaigns in the Republican primaries alone. However, most of
the money given to super PACs has come not from corporations but from wealthy individuals.