Liberal hedge fund manager George Soros is pledging $1.5 million in new funding for Democratic super PACs, the New York Times reported Thursday, continuing a reversal of tide that has seen lagging super PAC backing President Obama on the upswing as the Mitt Romney super PAC’s finances have eroded.
A frequent target of conservative critics for his activist liberal stands and extensive political giving, Mr. Soros’ absence from the 2012 race has been striking. He gave $1 million to American Bridge, an opposition research group, and made a small contribution to a super PAC backing House candidates, but he has contributed far less to date than in previous election cycles.
Mr. Soros told associated he opposes the Supreme Court’s Citizens United ruling, according to the New York Times account, a decision that opened the door to unlimited ads advocating directly against candidates, though that didn’t stop him from spending millions on super PACs’ predecessors, so-called “527 groups,” which have marginally tighter restrictions, in previous years.
The donations themselves won’t be reported until Oct. 20, days before the election.