The Congressional Hispanic Caucus’ (CHC) allied political action committee, BOLD PAC, acts as the monetary arm of the CHC. In their most recent public financial disclosure, the CHC has spent millions on resorts, restaurants, and nightclubs, especially in Las Vegas.
The CHC’s BOLD PAC describes itself as, “the fastest growing Democratic political action committee dedicated specifically to increase the diversity in the House and Senate” and claims it, “champions progressive Democrats fighting for change.” Chairman of BOLD PAC, Democratic Rep. Tony Cardenas credit’s Trump’s immigration rhetoric for the PAC’s recent fundraising success.
In 2017 alone, BOLD PAC pulled in a staggering $4.4 million for the CHC – but only spent $2.2 million so far. Part of BOLD PAC’s fundraising success comes from its unorthodox fundraising strategy. The PAC spends princely sums on extravagant luxury hotels, where it invites potential donors to mingle with its hundreds of handsomely paid political consultants – who are (by dint of the job) experts at extracting funds from wealthy individuals.
The CHC’s PAC reported spending $6,000 at Aria Resort and Casino in Las Vegas, while making two separate payments summing up to $19,649 for catering at Caesar’s Palace in February. The BOLD PAC paid $2,175 to the Fine Entertainment that same month to host small, private, fundraising events.
In just 2017 so far, they spent $7,000 at Omnia Nightclub, and nearly an additional $7,000 at Alto Bar, both located in the Caesar’s Palace Casino. This past June, the PAC hosted an event at a resort in Maryland, costing $79,603, while employing the services of Dem fundraiser Amy Strathdee, at an incredible cost of $205,000.
Whatever their politics, the CHC is both spending and taking in money at a breakneck pace – especially considering this is not a Presidential election year. Perhaps they are on to something, hosting events for rich donors at ritzy casinos may just put the donors in the right mindset to “gamble” on the fortunes of the Congressional Hispanic Caucus. If their most recent financial disclosures are any indication, their strategy is paying off – big time!
The PAC is now raising money from Democrats off the fear that Obamacare could soon be repealed and replaces.