John Jordan, a California winery owner who is running a super-PAC to support Marco Rubio’s bid, agrees.
“Despite all the talk about money in politics, we are entering an era where big money is less and less important,” said Jordan, who nonetheless spends millions on politics, largely through his own super-PACs.
The cautionary tale cited by nearly every donor or fundraiser interviewed on or off the record has been Bush. He has fallen in polls despite the more than $50 million already spent on his behalf by the group Right to Rise, which far outraised every other super-PAC with its mid-year haul of $103 million.
“I think the whole idea of super-PACs has been overrated,” said Fred Malek, finance chairman of the Republican Governors Association.
“Super-PACs can only do so much,” Malek added, pointing out that they pay vastly higher rates for TV ads than campaigns do, meaning that eye-popping super-PAC bank accounts might not have as much buying power as they appear to.
In conversations over the past six weeks, a number of major Right to Rise donors have privately told The Hill that they are holding on to hope that the political action committee can turn things around.
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