Lone Billionaire Hits Much, Much Higher Limit For Campaign Contributions

WASHINGTON — Ken Griffin, the hedge fund billionaire who once complained about the wealthiest Americans having “insufficient influence” in politics, has become the first — and so far only — donor to report giving the maximum amount to a national political party under newly loosened campaign contribution limits.

According to a Friday filing with the Federal Election Commission, Griffin gave $324,000 to the Republican National Committee in January.

Because of the new rules, individual members of Congress are likely also feeling pressure to raise more money through their leadership PACs to give to the parties. Previously, those PACs could donate only $15,000 a year to party committees — although lawmakers could transfer unlimited sums from their own campaigns. Now, the leadership PACs can be tapped for $15,000 for the party committee’s election account and another $45,000 each for the recount, building and convention accounts, for a total of $150,000.

Since December, the leadership PACs of Reps. Paul Ryan (R-Wis.), Fred Upton (R-Mich.), Greg Walden (R-Ore.) and Bob Goodlatte (R-Va.) have all made large contributions to the recount and building funds controlled by the National Republican Congressional Committee.

The Huffington Post