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In the latest Washington Reporter, Federal Election Commission (FEC) Chairman Sean Cooksey speaks with us about cryptocurrency, future FEC rulings, and what happens to Joe Biden’s campaign cash if the president drops out of the race.
By: Matthew Foldi
Federal Election Commission (FEC) Chairman Sean Cooksey is a former Chief Counsel for Sen. Josh Hawley (R., Mo.), Counsel for Sen. Ted Cruz (R., Texas), an attorney at Gibson, Dunn & Crutcher , and a 5th Circuit Court clerk. He was confirmed to the FEC in 2020 and has already made a huge impact at the Commission. The New York Times — no supporter of Republican priorities for campaign finance law — described Cooksey’s accomplishments on the Commission as “breathtaking” and gave him credit for “remaking the landscape of money in American politics.”
Perhaps most impressive, Sean has done all of this while being a young father and an active member of his church. Decades from now, campaigns and candidates will be relying on Cooksey’s achievements at the Commission, and we are extremely grateful that Sean spoke with us about the 2024 election, his top priorities, and his advice to young Hill staff.
If Democrats change their presidential candidate, what happens to the money raised by the Biden/Harris team? Are there other campaign finance implications accompanying a possible candidate change?
Matthew Foldi
Editor-in-Chief
The answer to this depends a lot on how the ticket changes and when, but it goes without saying that this would be a first in modern politics. I don’t want to speculate too much about how the rules would impact a specific scenario, and I wouldn’t be surprised if it leads to a request for an FEC advisory opinion. But one thing I can say definitively is that presidential campaigns can make unlimited transfers of funds to their party committees, in this case the Democratic National Committee. So that option is always on the table.
Sean Cooksey
FEC Chair
What’s the future of digital currency in the campaign finance system and political campaigns?
Matthew Foldi
Editor-in-Chief
Cryptocurrency is another really exciting technology I think about a lot and that has the potential to make a big impact on how campaigns are financed and run. It’s not a fad or a gimmick, and its role is only going to grow. I think the major question is whether the FEC and the rest of the government can keep up. Updated guidance on crypto contributions and new advisory opinions would be a good start, and it’s something I want to work on.
Sean Cooksey
FEC Chair
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What we’re hearing from people we trust on and around the Hill – please send us more tips!
By: Matthew Foldi
The House’s Energy and Commerce (E&C) Committee pulled down the scheduled markup of the American Privacy Rights Act, (APRA) following a major push by skeptics to quash the landmark data privacy bill last month.
APRA’s advocates — a bipartisan coalition led by top E&C members, Reps. Cathy McMorris Rodgers (R., Wa.) and Frank Pallone (D., N.J.), along with state Senator, Maria Cantwell (D., Wa.) — see it as legislation that would make cohesive the patchwork of state bills currently regulating social media. Data privacy is an issue that polls well, but lawmakers are seeing that passing comprehensive legislation that impacts almost every industry is much easier said than done. Some of its proponents still see a path forward, but following the scuttled markup its future is in jeopardy.
For more on the latest with the landmark data privacy bill, click HERE.
By: Matthew Foldi
Rep. Marc Molinaro (R., N.Y.) branded his Democratic opponent, Josh Riley, as an “architect of the border crisis,” in an ad previewed exclusively to the Washington Reporter.
Riley’s career as a high-powered lawyer enabled him to advocate for progressive immigration policies, including in one case, in which his clients petitioned the “Supreme Court to dismantle Trump’s border security policies,” Molinaro told the Reporter.
“Josh Riley is a total fraud,” Molinaro told the Reporter. “These new documents [of Riley’s left-wing immigration lawsuits cited in his ad] are damning. [They show that] Josh Riley is one of America’s top legal activists for open borders.”
Riley “fought to overturn our immigration laws and sponsored lawsuits with Biden’s border chief to prevent border patrol from closing the border,” Molinaro’s ad says. The ad comes months after House Republicans voted to impeach Homeland Security Secretary Alejandro Mayorkas, who executed President Joe Biden’s border policies, and oversaw record numbers of illegal immigrants crossing into America. Riley and Mayorkas worked together during President Donald Trump’s administration and filed dozens of briefs arguing for a lax approach to immigration policies.
Click HERE to watch Rep. Marc Molinaro’s ad, first shared with the Washington Reporter.
By: Rep. Tom Emmer
Nearly half of all American adults own digital assets according to some studies. One-third of U.S. voters say they’ll weigh candidates’ views on digital assets before voting. Thirty percent of registered voters in swing states say they’re more likely to support a crypto-friendly candidate. The facts are clear: Americans care about digital assets, and rightfully so.
Today, every single online transaction moves between intermediaries, whether that intermediary is a bank, Big Tech, or the government. Digital assets change that. This technology powers peer-to-peer transactions online. Fundamentally, digital assets embody the free market principles our country was built upon: freedom, privacy, and individual sovereignty. Plus, digital assets build the infrastructure for a cheaper, faster, and more efficient financial system than is currently available. As we conduct more and more activity online, providing internet users the choice to conduct transactions directly with each other will unlock an abundance of economic opportunity and prosperity. However, for this to happen the United States must lead in developing this next iteration of the internet so that it is designed with American values.
Like so many issues this election, the contrast between our two presidential candidates’ stances on digital assets couldn’t be clearer. Only one candidate in this race understands what’s at stake and is running on a pro-crypto agenda.
And that candidate is President Donald Trump.