Law firms dominating campaign contributions to Obama

Big law is heavily favoring President Obama in campaign contributions, pouring twice as much money into the president’s re-election campaign than into the four leading Republican candidates combined.

Obama has received $4.1 million from lawyers and law firms compared with the $1.7 million that Mitt Romney, Herman Cain, Newt Gingrich and Ron Paul have received collectively, according to Federal Election Commission filings analyzed by the government watchdog group Center for Responsive Politics.

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“The legal industry as a whole has been a traditional place for Democrats to turn to,” said Michael Beckel, the center’s spokesman. “Obama is not unique in that respect. If you look back, about 70 percent of the money the legal industry donates within a particular cycle benefits Democrats opposed to Republicans. Some of that goes back to [Republican] candidates touting tort reform,” making it harder to sue.

Beyond personal giving, campaign finance experts said no other industry has bundled more money for Obama than lawyers. Bundlers are people who, after reaching their individual contribution limit, solicit and “bundle” contributions from friends, family and associates. More than a fifth of Obama’s bundlers — 78 out of 358, the largest percentage compared to any other profession — are lawyers at some of the biggest law firms in the world, including Skadden, Winston & Strawn, DLA Piper and Sidley Austin (the Chicago firm where both Obama and Michelle Obama formerly worked as associates). Obama is the only candidate to voluntarily release the names of his bundlers.

Lawyers and law firms have raised at least $9.9 million through bundling, more than any other sector. The securities and investment sector comes in second, having raised at least $9.4 million that way.

Next year marks the first presidential election since the 2010 U.S. Supreme Court decision in Citizens United began allowing corporations to spend unlimited amounts of money on political candidates. The fact that corporate lawyers often have the deepest pockets means they could wield more influence in this election than ever before.

“We fully expect to see this group pony up money to super PACs,” Beckel said. “When you’re talking about lawyers, unions and Hollywood being traditional sources of big money for Democrats, the new campaign finance landscape means these same resources are likely to be funding the newest largest super PACs as well.”

Lawyers are also among the most generous donors to Obama’s re-election campaign by another important measure: more than a third of Obama’s 20 biggest contributors in terms of individual organizations (corporations and universities via their PACs and employees) are law firms — the same law firms where many of his bundlers work. Law firms make up seven out of Obama’s top 20 corporate contributors, giving a collective $403,356.

Law firms play a far smaller role in financing the campaigns of the four leading Republican candidates, FEC records show. Neither Cain nor Paul count any law firms among their largest corporate donors. Romney and Gingrich each list two law firms among their top corporate donors that have contributed $211,350 and $12,500, respectively.