June 22, 2018
Media mogul and former New York City Mayor Michael Bloomberg—who ran and won three times on a Republican ticket in the largely democratic Big Apple, although he is an Independent—has approved a plan to spend at least $80 million of his personal fortune, estimated to be over $50 billion, on the upcoming midterm elections. His goal, as was first reported by The New York Times on June 20, is to help Democrats wrest control of the House from the GOP.
According to the Times, “By siding so emphatically with one party, … Bloomberg has the potential to upend the financial dynamics of the midterm campaign, which have appeared to favor Republicans up to this point.”
In a formal statement on his own website, Bloomberg noted, “Republicans in Congress have had almost two years to prove they could govern responsibly. They failed. As we approach the 2018 midterms, it’s critical that we elect people who will lead in ways that this Congress won’t— both by seeking to legislate in a bipartisan way, and by upholding the checks and balances that the Founding Fathers set up to safeguard ethics, prevent the abuse of power, and preserve the rule of law.
“And so this fall, I’m going to support Democrats in their efforts to win control of the House”
He also remarked, “I’ve never thought that the public is well-served when one party is entirely out of power, and I think the past year and half has been evidence of that .…[Republicans] have done little to reach across the aisle to craft bipartisan solutions ― not only on guns and climate change, but also on jobs, immigration, health care, and infrastructure. As a result, Congress has accomplished very little.”
The Democrats need 23 seats in November to regain a majority in the House. Support for Democratic House candidates has ticked up slightly to 50%, according to a CNN poll conducted by SSRS and released on June 20.
Research contact: @MikeBloomberg