March 22, 2002
WASHINGTON -- An entertainment industry tycoon gave the Democratic National Committee $7 million last month to help build a new headquarters, a record-breaking gift for the party, a party spokeswoman said Thursday.
The gift from Haim Saban of Los Angeles, who made his fortune from the "Mighty Morphin Power Rangers" and other children's television shows, may be the largest gift that either major party has received in modern times. And it could turn out to be among the last of its kind.
The Democrats' disclosure came one day after Congress cleared a landmark bill to overhaul campaign finance rules.
Under the legislation, national political parties would be prohibited after this fall's elections from raising such huge sums from a single source.
Democratic officials say Saban's gift is the cornerstone of a $32 million fund drive to help build a new headquarters by the end of next year.
"It's a record-breaking contribution," said party spokeswoman Maria Cardona. She said the previous largest donation to the national Democratic Party was a $1.5 million gift in 1985 from a Maryland woman.
The largest single political donation reported by either major party in the past 11 years was $1.7 million in 1994 to a GOP committee from Amway Corp., according to the Center for Responsive Politics in Washington, which tracks political giving.
By any measure, Saban's gift is huge. During the 2000 campaign, for instance, the American Federation of State County and Municipal Employees was the largest donor of the unlimited funds to political parties known as soft money. The union gave $5.9 million, and that was a cumulative total of contributions spaced over two years.
Republicans have criticized the Democratic fund drive for the headquarters, saying it is at odds with the position of most congressional Democrats who voted to ban soft money.
Copyright © 2002, Chicago Tribune
===== Kevin Dean Buffalo, NY ICQ: 8616001 Buffalo Activist Network http://www.buffaloactivist.net
__________________________________________________ Do You Yahoo!? Yahoo! Movies - coverage of the 74th Academy Awards® http://movies.yahoo.com/