Sen. Sheldon Whitehouse (D-RI) has long been the Left's foremost critic of 'dark money,' which he's said 'corrupts' politics and poses a 'threat to democracy.'
Sen. Sheldon Whitehouse has long been the Left's foremost critic of"dark money," which he's said"corrupts" politics and poses a"threat to democracy."
Entities that have 501 tax-exempt"social welfare" status are often called"dark money" groups because they don't have to disclose their donors to the IRS, may spend money on elections, typically in the form of independent expenditures, or advertisements, and can also engage in unlimited lobbying. Like other private companies, Running Tide's financials are"much further in the dark" than nonprofit groups, given they don't have tax-exempt status and have fewer obligations when it comes to public disclosure than nonprofit groups, according to Scott Walter, president of the conservative think tank Capital Research Center. Running Tide spent over $300,000 from 2022 to 2023 lobbying on"issues related to carbon sequestration using deep water kelp," disclosures show.
It also took roughly $10.7 million from Fund for a Better Future, another left-leaning dark money group that is bankrolled by Berger Action Fund, the advocacy arm of Swiss billionaire Hansjörg Wyss's private foundation, tax forms show.
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