Restore Our Future
| Legal status | Active |
|---|---|
| Purpose | Political action committee |
| Affiliations | Mitt Romney |
| Website | Restore Our Future |
Restore Our Future is a political action committee (PAC) created to support Mitt Romney in the 2012 U.S. Presidential election. A so-called Super PAC, Restore Our Future is permitted to raise and spend unlimited amounts of corporate, union, and individual campaign contributions under the terms of the Citizens United Supreme Court decision.[1]
Restore Our Future was founded by Romney aides in 2010.[2] Charles Spies, the group's treasurer and former general counsel for Romney's 2008 campaign for the Republican Presidential nomination, described Restore Our Future as "an independent effort focused on getting Romney elected president."[1] The group reported raising over $12 million in the first half of 2011, in the form of large donations from approximately 90 wealthy individuals and corporations.[3] Spies declined to discuss specific contributors to the PAC.[4]
Contributors
As of August 2011[update], the largest individual contributor to Restore Our Future was John Paulson, a billionaire and hedge fund manager who is, according to Politico, "famous for [having enriched] himself by betting on the collapse of the housing industry."[3] An additional million dollars came from W Spann LLC, a corporation with no record of actual business activities.[5] W Spann LLC was incorporated, donated to the PAC, and then dissolved in a matter of months,[6][7] attracting concerns from election-watchdog groups and campaign-finance experts about the use of dummy corporations to shield large campaign contributions from public scrutiny.[5]
Several watchdog groups requested that the Justice Department and Federal Election Commission investigate donations to Restore Our Future from W Spann LLC as possible violations of campaign-finance law.[8] Restore Our Future declined to provide additional details about the donation and asserted that it had complied with existing laws. In response to rumors, a spokesman for Bain Capital, an equity firm previously headed by Romney, stated that W Spann LLC "is not affiliated with Bain Capital or any of our employees."[5] Shortly thereafter, Edward Conard, a former top executive at Bain Capital and longtime Romney supporter, came forward to state that he had formed W Spann LLC and funded and authorized the $1 million contribution.[9] Conard requested that Restore Our Future amend its filings to reflect that he, rather than W Spann LLC, donated the $1 million.[10][11]
Other dummy corporations appear to have been created expressly to mask donations. Paumanok Partners LLC contributed $250,000 to Restore Our Future. Nothing is known about the company other than a post office box. It has been traced back to Romney donor William Laverack, Jr..[12] Another is Glenbrook L.L.C., which was originally reported as donating $250,000 in August 2011, but in an amended filing with the FEC the Glenbrook donation was replaced by two $125,000 donations by Jesse Rogers, a former executive at Bain & Company. [13]
Two additional $1 million contributions came from corporations registered to the offices of two executives of Nu Skin Enterprises, a Utah-based multilevel marketing company selling skin-care products and dietary supplements.[3] Other large contributors included members of the Marriott family, hedge-fund managers, and investors in Bain Capital.[3]
Iowa ad
In December, 2011, Glenn Kessler of the Washington Post found that a Restore ad attacking Newt Gingrich in Iowa had a number of "egregious fouls" and "underhanded" treatment of Freddie Mac and abortion issues. The PAC had $3 million budgeted for the Iowa television campaign. Brittany Gross, a Restore spokesperson, declined to answer questions from Kessler about the ad.[14]
References
- ^ a b Eggen, Dan; Cillizza, Chris (June 23, 2011). "Romney backers launch 'super PAC' to raise and spend unlimited amounts". The Washington Post. Retrieved August 4, 2011.
- ^ Mason, Melanie (July 5, 2011). "Pro-Romney 'super PAC' reports $12-million haul". Los Angeles Times. Retrieved August 4, 2011.
- ^ a b c d Martin, Jonathan; Vogel, Kenneth P. (July 31, 2011). "PAC brings in $12.2 million for Mitt". Politico. Retrieved August 4, 2011.
- ^ Schouten, Fredreka (August 4, 2011). "Dozen donors spend big on '12 races". USA Today. Retrieved August 4, 2011.
- ^ a b c Eggen, Dan (August 4, 2011). "Mystery firm's $1M donation to pro-Romney PAC raises concern over transparency". The Washington Post. Retrieved August 7, 2011.
- ^ Isikoff, Michael. "Firm gives $1 million to pro-Romney group, then dissolves". msnbc.com. Retrieved August 4, 2011.
- ^ Confessore, Nicholas (August 4, 2011). "Donation to Romney-Tied Group Draws Scrutiny". The New York Times. Retrieved August 4, 2011.
- ^ O'Toole, Molly (August 5, 2011). "Watchdogs seek source of money to Romney backer". Reuters. Retrieved August 7, 2011.
- ^ Gillum, Jack (August 6, 2011). "Mysterious donor to pro-Romney PAC identified". Associated Press. Retrieved August 7, 2011.
- ^ Burton, Alexander (August 6, 2011). "Mystery Romney backer reveals himself". The Hill. Retrieved August 7, 2011.
- ^ Haberman, Maggie (August 5, 2011). "Mystery Mitt Romney donor comes forward". Politico. Retrieved August 7, 2011.
- ^ Luo, Michael (February 3, 2012). "THE CAUCUS; A Likely Name For a Mystery Donor". The New York Times. Retrieved February 14, 2012.
- ^ Luo, Michael (February 7, 2012). "A Secret Donor Revealed". The New York Times. Retrieved February 14, 2012.
- ^ Kessler, Glenn, "Romney versus Gingrich: a Super PAC’s over-the-top ad", Washington Post Fact Checker blog, 12/21/2011 06:02 am ET. Retrieved 2011-12-21.