Stephen Colbert’s political action committee has enough cash to play jokes and pull pranks through the presidential campaign, but for now the comedian is mum on how he plans to spend that money.
Colbert’s Super PAC, Americans for A Better Tomorrow, Tomorrow has $794,000 cash-on-hand sitting untouched in its coffers, according to March documents filed with the Federal Election Commission, making it wealthier than some PAC’s intended to back (legitimate!) presidential candidates
The PAC raised just $44,000 in March, but spent only $28,000, mostly on Internet bills and legal fees. Though the March haul is paltry, the committee is sitting on a significant sum.
By contrast, as Politico first reported, Endorse Liberty, a PAC dedicated to supporting Ron Paul’s candidacy has just $54,000 in the bank.
Endorse Liberty, initially bankrolled with a $1.7 million donation from PayPal founder Peter Thiel, raised just $13,000 in March.
Colbert’s PAC, however, was significantly outspent by big-name organizers. Winning Our Future, the pro-Gingrich PAC mostly bankrolled by Casino mogul Sheldon Adelson and his family received $5 million in March alone.
The pro-Obama super PAC Priorities USA Action has $5 million cash-on-hand, and Restore Our Future, the group backing Mitt Romney has $16.5 million in the kitty.
Colbert has no millionaire backer behind his Super PAC. He has raised funds through appeals to viewers on his popular Comedy Central show “The Colbert Report.” Through his website, Colbert sells a “Super Fun PAC” for $99, which includes a wrench, tube socks, and a sign that reads “If the super PAC is caucusing, don’t bother knockusing!”
Super PACs are a new form of political action organization freed of the campaign finance rules that limit donations to a candidate directly. Colbert created the PAC as parody, to highlight the sometime shadowy world of political giving.
Colbert’s Comedy Central spokesman referred questions about the PAC to his personal publicist, who did not immediately respond.