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Republican Senate Nominee Funded Primarily By Wealthy Investors

By Josh Israel on May 7, 2013 at 3:52 pm

"Republican Senate Nominee Funded Primarily By Wealthy Investors"

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Senate nominee Gabriel Gomez (R-MA)

Senate nominee Gabriel Gomez (R-MA)

Gabriel Gomez, the Republican nominee to fill John Kerry’s open Senate seat in Massachusetts, often invokes his background in the private sector as a private equity investor. Perhaps as a result, his campaign has raked in hundreds of thousands of dollars in campaign contributions from other venture capitalists, investors, and bankers — people likely to benefit from his anti-tax, anti-regulation proposals.

A ThinkProgress review of Gomez’s campaign filings with the Federal Election Commission reveals that in addition to more than $600,000 in candidate loans to his committee, he has reported about $646,000 in identified contributions through April. Of that, about half (roughly $330,000) came from investors, bankers, and the like. More than $35,000 of that came from his former colleagues at Advent International and another $12,900 came from investors with various affiliates of Mitt Romney’s old firm, Bain Capital.

An analysis by David S. Bernstein, a former Boston Phoenix journalist, also found that an additional $44,550 came from spouses of those investors, who listed no occupations of their own.

It makes sense that wealthy investors would really to one of their own. The biography on Gomez’s campaign website says Gomez “experienced how onerous taxes and excessive regulation are barriers to job creation.” Elsewhere on his website, he indicates that he wants to reduce the budget deficit through significant spending cuts, but not through new revenue. “We recently raised taxes on the wealthy, and on every worker in America with the payroll tax hike. It is time now to reach across the aisle and work together to enact meaningful spending reductions in a fair and equitable way, without hurting our military preparedness,” he opines. Gomez himself received more than $993,000 last year in salary and bonuses.

Gomez says wants to see key portions of the Dodd-Frank financial sector reform law repealed, complaining “It’s crazy where there are more compliance officers at banks than loan officers.” It comes as little surprise that those in the sector, forced to reform the behaviors that caused the 2008 economic meltdown, are all too happy to bankroll his campaign.

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