Michael Bloomberg Backs Democrats With $80 Million But Remains Wary Of Party's Leftward Shift: Report

(MENAFN- Live Mint) Former New York City mayor and billionaire philanthropist Michael Bloomberg has contributed about $80 million to support Democrats ahead of the US midterm elections, while remaining concerned about what he sees as the party's leftward shift, particularly on issues such as Israel, The New York Times reported.

Bloomberg's team reportedly shared details of the donations with the NYT, ahead of the expected release of most of the contributions in campaign finance filings. The 84-year-old Democratic megadonor is particularly focused on helping the party secure a sizable majority in the House of Representatives, according to the report.

Howard Wolfson, Bloomberg's political adviser, said the former mayor believes financial resources play an important role in election campaigns.

“He believes in participation in our democracy,” the news outlet quoted Wolfson as saying, adding that Bloomberg's financial contribution was larger than that of many others because of his resources.

“He is of the view that resources matter in campaigns,” Wolfson said, adding that Bloomberg“expects a result”.

Bloomberg directs at least $50 million towards House races

At least $50 million of Bloomberg's latest spending is earmarked for House races, as Democrats seek to win control of the chamber, according to the New York Times.

The contributions include $24 million for Everytown for Gun Safety, the gun-control advocacy group co-founded by Bloomberg, and another $16 million for House Majority PAC, a super PAC aligned with Democratic House Minority Leader Hakeem Jeffries.

Bloomberg wants Democrats to secure a sufficiently large majority to govern effectively, rather than merely reaching the 218 seats required to control the House, the report said.

“The difference between 221 and 230, in terms of the House majority, really matters,” Wolfson told NYT, referring to the number of seats Democrats could hold in the next Congress.

Also Read | US midterms: Iran war, Russia deal expose divide between Trump, Republicans Bloomberg concerned about Democrats' leftward shift

Despite his substantial financial support for Democrats, Bloomberg remains concerned about the party's ideological direction, particularly its positions on Israel, the outlet reported citing Wolfson.

The adviser said Bloomberg was not“directing” money towards left-wing supporters of the Democratic Socialists of America.

Bloomberg has not yet decided whom to support in the broader political landscape, Wolfson told the newspaper. However, one of his donations during the current election cycle backed Pennsylvania Governor Josh Shapiro, who is viewed as a potential Democratic presidential contender.

Bloomberg's donations come amid Republican spending push

Bloomberg's contributions could provide additional resources to Democrats competing in closely contested races, as Republican-aligned groups deploy substantial sums to support their candidates.

Elon Musk and a super PAC aligned with US President Donald Trump have unleashed hundreds of millions of dollars in support of Republicans.

Bloomberg's latest spending therefore comes at a critical time for Democrats, who are particularly focused on flipping the House and securing a majority large enough to govern with greater flexibility.

Also Read | Why Republicans' $1 billion election war chest is failing to translate into vote

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