WV MetroNews

Outside Money Dominates Sugar Maple PAC

Listen to “Outside Money Dominates Sugar Maple PAC” on Spreaker. Thomas Klingenstein of New York — his address is on Broadway — works in finance. Jeff Yass was born in Queens. He became a professional gambler, then founded a Wall Street trading firm. That firm even uses poker tournaments to sharpen decision-making — and its traders have won the World Series of Poker three times, taking home the coveted bracelet. Sean Fieler is a father of six and a devoted Catholic. He lives in Stamford, Connecticut. His wife, an economist, teaches at Yale. He’s into hedge funds. What do they all have in common? They’ve all donated significant money to a political action committee with reported ties to Governor Patrick Morrisey. Klingenstein and Yass each gave $100,000 to the Sugar Maple PAC in March. Fieler added another $50,000. Altogether, the PAC has raised about $565,000 across 22 donations in just a few months. Most of that money? It didn’t come from West Virginia. Only four donations came from in-state donors — totaling $45,000, just under 8 percent of the total. The rest came from places like New York, Florida, and Utah among others. Yass — worth more than $64 billion, according to Forbes, making him the 28th richest person in the world — along with Klingenstein and Fieler, look less like casual donors and more like strategic investors. Type their names into a search engine and you’ll find political contributions spread across the country, tied to a wide range of issues. In fact, just this week, Yass reportedly gave $1 million to Marsha Blackburn’s campaign for governor in Tennessee. And to be clear — there’s nothing illegal about any of this. The courts have been clear: people have the right to spend their money on politics as they see fit. NEWS from Brad McElhinny: Law firm that has worked with Morrisey is linked to PAC targeting Republican state senator But the question remains — why here? Why would donors like this invest in a PAC focused on legislative races in West Virginia? Consider how that money is being spent. According to WOWK reporter Maddy Sperling, the Sugar Maple PAC has spent nearly $26,000 supporting Laura Wakim-Chapman, and more than $11,000 opposing her primary challenger, Joe Eddy. Sperling’s reporting also ties the PAC to Morrisey. Governor Morrisey has already endorsed Chapman in the general election against Democrat Shawn Fluharty — effectively bypassing her primary opponent. In another race — one the First Lady has been actively discussing on social media — the PAC has spent about $16,000 supporting Jonathan Comer over Vince Deeds. Comer is related to Kevin Comer, who has close ties to both the governor and the First Lady. Now ask yourself: What are the odds Jeff Yass has ever met Laura Wakim-Chapman? Or that Sean Fieler sat down for coffee with Jonathan Comer? Probably slim. So again — why? Here’s one plausible explanation: West Virginia is a relatively inexpensive political market. Fewer people, fewer voters — meaning outside dollars can go further. And these donors may not be investing in candidates as much as they are investing in ideas. Ideas they hope to scale. Because in politics, states are often the proving ground. Pass legislation in one state — say, something like food dye restrictions — and you build momentum. That momentum can spread to other states, raise national attention, and eventually push the issue into the federal conversation. Or, in some cases, make federal action unnecessary because enough states have already shifted the market. So, should you care? That’s up to you. But it’s worth knowing where the money is coming from, and asking why it’s coming here along with who it benefits and who it doesn’t. Does it matter that Governor Morrisey is linked to this PAC? Again, that’s a question for voters to decide What you do with this information – whether you applaud the effort or detest it – is your call. Sperling’s story notes the following: Senate District 1 – $25,863 in support of incumbent Senator Chapman, $11,084 in opposition to primary challenger Joe Eddy Senate District 8 – $12,705 in support of Sen. Kevan Bartlett (R-Kanawha) Senate District 10 – $16,473 in support of Johnathan Comer, primary challenger of incumbent Senator Deeds Senate District 17 – $13,404 in support of Chris Pritt, primary challenger of incumbent Sen. Tom Takubo Senate District 17 (Special) – $13,404 in support of Sen. Anne Charnock (R-Kanawha) House District 6 – $2,180 in opposition to incumbent Del. Jeff Stephens (R-Marshall), $2,740 in support of primary challenger Don Dewitt House District 12 – $1,395 in opposition to incumbent Vernon Criss, $3,255 in support of primary challenger Charles D. Hartzog House District 13 – $1,813 in opposition to Del. Scot Heckert (R-Wood), $4,321 in support of primary challenger Melissa McCrady House District 72 – $2,017 in support of Megan Krajewiski, primary challenger of Del. Clay Riley (R-Harrison) House District 87 – $2,180 in opposition to incumbent Del. Gary Howell (R-Mineral), $5,087 in support of primary challenger Charles “Dutch” Staggs The post Outside Money Dominates Sugar Maple PAC appeared first on WV MetroNews.