All in all, the donors on the letter represent roughly $12.4 million in giving. Wealthy liberals issue funding call

Some big Democratic donors have a message for Congress: Don’t rely so much on the rich to fill your campaign war chests.

A group of 60 wealthy donors and activists have signed onto a new letter urging Congress to create a system of public financing that would curtail their own influence in elections, according to a copy of the letter being sent to the Hill on Friday.


Signatories to the letter include major Democratic bundler Naomi Aberly, Craigslist founder Craig Newmark, Ben & Jerry’s co-founder Ben Cohen, tech mogul David DesJardins, businessman Arnold Hiatt and Jonathan Soros, among others.

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Aberly raised more than $500,000 for President Barack Obama in 2012, while DesJardins gave nearly $1 million to Democratic candidates and organizations in 2012. Soros, the son of billionaire liberal donor George Soros, runs the super PAC Friends of Democracy — a big money group that aims, ironically, to curb the influence of big money.

“Anyone that’s been through a lot of campaigns says that too much time is being spent with our elected representatives raising money,” said Alan Patricof, founder of private equity firm Apax Partners, who signed the letter. “I’d rather have them tending to the people’s business. And you know what — I don’t think politicians like calling to ask for money any more than I like receiving their phone calls.”

Patricof has given generously to mostly Democrats over the years — including contributions in 2012 to Rep. Debbie Wasserman Schultz (D-Fla.), Sen. Kirsten Gillibrand (D-N.Y.) and others.

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All in all, the donors on the letter represent roughly $12.4 million in giving to federal candidates, PACs, and party committees, according to Public Campaign.

”We who sign this letter raise and give substantial sums for elections. The influence that people like us have will be curtailed by the changes we seek, but our democracy must return to the First Amendment principle that all Americans, not just the wealthy, must have their voices heard,” they wrote in the letter, which was organized by the progressive groups Public Campaign Action Fund, Voices for Progress and Friends of Democracy.

Congressional Democrats on Wednesday introduced a public financing bill this week — legislation that they hope will curb the influence of K Street lobbyists and free-spending super PACs.

Sponsored by Rep. John Sarbanes (D-Md.), the Government by the People Act would use public money to match donations of less than $150 to congressional candidates at a rate of 6 to 1. Under the proposal, a $50 donation would net $350 for the candidate. If candidates agree only to take small donations, the public-money match would increase to 9 to 1.

Sarbanes acknowledged an interview this week that congressional Republicans — who control the House — haven’t shown much interest in the issue.

“I think we can build something that will be bipartisan over time,” Sarbanes said. “It may not pass in this Congress — I’m not that naive. But when the window presents, we’ll have a very strong coalition and strong momentum behind this. I think it can be successful.”

Congress created a system of public financing for presidential campaigns after the Watergate scandal — but in the 2012 election, both Barack Obama and Mitt Romney opted out of the $91.2 million in public financing. Both candidates went on to raise more than $1 billion each.

The Sarbanes proposal does not affect Senate elections.