President Obama was in the Bay Area for a couple of fundraisers on Wednesday, but there are signs that Democratic donors are growing weary of the president’s fundraising, the San Francisco Chronicle reports.
The president made an appearance at a roundtable in San Francisco for the House Majority PAC. According to the Chronicle, this type of event usually has an admission of $32,400 per person. However, some donors were offered tickets at prices as low as $5,000.
Obama also made an appearance at the home of George Marcus, a real estate mogul. Tickets to this event were $10,000. The event had about 90 guests.
The event “drew an older crowd that was noteworthy for the absence of young angel investors, startup stars, and tech leaders who have flocked to fundraisers Obama has held while paying 17 previous visits as president to the Bay Area.”
Obama is turning again and again to the Bay Area to raise money – his last visit was less than three months ago – in part because of a U.S. Supreme Court decision striking down limits on donors' overall campaign contributions, Democratic insiders said.
The court's decision in April wiped out individual limits of $74,600 in combinated donations to all parties and political action committees, and $48,600 in combined donations to federal candidates per individual.
That decision means super PACs like the House Majority PAC, and party committees such as the Democratic Congressional Campaign Committee, the beneficiary of the Los Altos Hills fundraiser, are now free to hit up big donors repeatedly.