Who are the Committee

[malaise]

for the Preservation of Capitalism? I see a 100% donation for the Rethugs -$742,500 and can't find anything on them.
http://opensecrets.org/overview/topcontribs.asp?cycle=2006

[valerief]

1. Cached news story; Jim McCrery, R-Shreveport

http://216.109.125.130/search/cache?p=Committee+for+Preservation+of+Capitalism&fr=yfp-t-501&toggle=1&ei=UTF-8&u=www.shreveporttimes.com/apps/pbcs.dll/article%3FAID%3D/20060325/NEWS01/603250334/1002/NEWS&w=committee+preservation+capitalism&d=NpebLiQ8Nl96&icp=1&.intl=us

McCrery using leadership fund to bolster support on Capitol Hill
March 25, 2006

McCrery's PAC donations over time
2005-2006 $358,500.
2003-2004 $560,500.
2001-2002 $537,000.
2000-2001 $336,500.
1998-1999 $160,000.
Source: PoliticalMoneyLine On the Web:
• U.S. Rep. Jim McCrery

By Ana Radelat
[email protected]

WASHINGTON -- As part of a campaign to win one of the most powerful positions in the U.S. House of Representatives, Rep. Jim McCrery is giving hundreds of thousands of dollars in campaign contributions to his GOP colleagues.

Since 1998, McCrery, R-Shreveport, has given Republican candidates nearly $2 million from his leadership political action committee, the Committee for the Preservation of Capitalism.

And there's evidence he's stepped up the fund's activities.

Federal Election Commission records show the Committee for the Preservation of Capitalism donated nearly $360,000 to GOP candidates last year, more than it donated any other year.

One recipient is former House Majority Leader Tom DeLay, R-Texas, who is awaiting trial on charges that he illegally funneled corporate donations to GOP candidates for the Texas House. McCrery's PAC gave DeLay's campaign $10,000 about a week before the Texan faced several challengers in a March 7 primary.

McCrery also used his leadership PAC to give DeLay's legal defense fund $5,000.

McCrery hopes to head the House Ways and Means Committee -- considered by many the most powerful panel in the House -- after current chairman Bill Thomas, R-Calif., retires at the end of this year.

McCrery is considered the natural successor for the job. That will be determined in January by a steering committee composed of 19 Republican House members.

Leadership positions are almost always won through seniority, yet McCrery isn't the committee's most senior member. Rep. Clay Shaw, R-Fla., and Rep. Nancy Johnson, R-Conn., have more seniority on the panel and have expressed interest in the leadership post.

But there are exceptions to the seniority rule, and McCrery may be the choice of his colleagues and Washington lobbyists who have lots of business before the committee.

FEC filings show McCrery had $530,000 in his leadership PAC at the end of February. He's expected to raise more money this year and to spend much of it bolstering his popularity with GOP colleagues and helping Republicans keep control of the House -- and committee chairmanships.

"You've got to pay to play," said University of Virginia political science professor Larry Sabato.

He called McCrery's donations to DeLay "a solidarity move" aimed at showing support for House leaders who have helped him over the years.

"Loyalty matters," Sabato said.

Stephen Hess, a fellow at the Brookings Institution, said leadership PACs like McCrery's are a must for congressional leaders and for lawmakers who aspire to lead.

"They're not designed for their own re-election needs, but to support colleagues who will remember them fondly at the right time," Hess said.

McCrery said he has worked hard over the years to support Republican candidates "who shared my vision for a limited, common-sense government that maximizes economic opportunity for all Americans."

"The Committee for the Preservation of Capitalism has been an important tool in this effort, and I believe it will be again in 2006," he said.

Lawmakers who recently received $5,000 donations from McCrery's PAC include Rep. Charles Boustany, R-Lafayette. The Committee for the Preservation of Capitalism also donated to the campaigns of Reps. Bob Ney, R-Ohio, and Heather Wilson, R-N.M., who are facing tough re-election challenges.

In addition, McCrery's PAC has given thousands of dollars to Republican challengers who are trying to unseat Democrats.

Most of the money in McCrery's leadership fund came from out-of-state contributors, including lobbyists and PACs that represent industry. McCrery raised the money by holding fundraisers in Washington, Florida, California and elsewhere.

Frederick Graefe, a Washington lobbyist who recently gave McCrery's PAC $1,500, described McCrery as "uniformly and widely respected by members of both sides of the aisle."

"He's a good guy, reasonable, and a very good golfer," Graefe said

McCrery has time to raise money for his leadership PAC this year partly because no one is challenging his re-election bid. In addition, his re-election campaign committee has plenty of money. The latest reports filed with the FEC showed McCrery's leadership PAC had about $887,000 in cash on hand.

[malaise]

2. Thanks

How does he makes his money?