The state of Idaho filed suit against a secretive group that has spent more than $200,000 on campaign ads supporting three school reform ballot measures but refuses to disclose its donors as required by state law. The group, which calls itself “Education Voters of Idaho” (EVI), popped up in August and gave $200,350 to a political committee called “Parents for Education Reform” (PER), which immediately spent the money on statewide TV ads. The two groups share the same mailing address.   read more

The Energy Department’s inspector general (IG) found that of the $361 million allocated on travel over the past six years, contractors spent 85% of the funds. This averaged out to a little more than $50 million annually. Energy officials were criticized by the IG for not doing more to control contractors’ travel, which involved more than 90,000 international trips during the six years reviewed.   read more

Two of the biggest manufacturers of handguns, Sturm, Ruger & Co. and Smith & Wesson, are enjoying substantial jumps in sales. Purchases of Ruger-made weapons have gone up 86% since Obama became president, while Smith & Wesson’s sales have climbed nearly 44%. Overall, gun sales are up 18% nationwide.   read more

The single biggest source of funding for the Democrats’ gathering in Charlotte, North Carolina, was an $8 million loan from Bank of America that was secured by Duke Energy. The Republicans leaned heavily on wealthy individuals to finance their convention in Tampa, Florida. Topping the list was Las Vegas casino mogul Sheldon Adelson, who contributed $5 million. Another key contributor was Bill Edwards, who gave $4.6 million through two of his companies.   read more

According to The Center for Public Integrity, which tracked this transfer, the $1.5 million passed through three RGA accounts in Washington D.C. before making its way to Wisconsin and Pennsylvania. Pennsylvania Common Cause Executive Director Barry Kauffman called the multi-transferred funds “an elaborate money-laundering scheme, which is legal.”   read more

In the current dysfunctional campaign finance system, partisan groups are able to receive 501(c)(4) status from the IRS. This tax designation is supposed to be for organizations dedicated to promoting social welfare. But big-money operations like Crossroads GPS (Republican) and Priorities USA (Democrat) are really dedicated to influencing election outcomes, and that’s where the IRS could play a key role in stemming the million-dollar collections of these groups.   read more

Under the tax code, penalties can be assessed for not filing a tax return or for failing to pay the full amount shown. But Americans who have paid on time and in full for the previous three years can ask for the penalties to be waived. The problem is that the IRS did not bother to tell 1.45 million tax filers in 2010 about this opportunity, known as the First-Time Abate.   read more

Two years ago, the Army allocated $10.7 million to take part in a Washington conference and trade show organized by the Association of the United States Army, a Virginia-based group that brings together defense contractors and members of the military. The Army spent nearly the same total ($10.6 million) in 2011 for the same event, before finally deciding this year to limit to $1.3 million the Army’s expenditure for this year’s event, which will take place in Washington D.C. October 22-24.   read more

Defense procurement officials are supposed to resolicit bids in some cases so that more than one offer is on the table for consideration. But the IG faulted the Pentagon for not realizing “potential cost savings associated with increased competition and re-competing $390.9 million in contract modifications.”   read more

According to the Kaiser analysis, for those remaining in traditional Medicare, 53% would pay more, with the average premium increased by $720 annually. Among participants in private Medicare Advantage plans, 88% would pay higher premiums unless they switched to less expensive plans with less coverage and/or higher deductibles. The average premium hike in this group would be $1,044 more annually, according to the study.   read more

The Ninth Circuit Court of Appeals this week reinstated at least for the time being Montana’s campaign donation limits. The law capped individual contributions to the governor’s race to $630 and contributions to a state legislative candidate to $160, although the amounts were adjusted for inflation after each election cycle. The law also limited the total amount political parties could contribute to a campaign—for example $22,600 for a gubernatorial candidate.   read more

Almost half of Wall Street revenue goes to salaries and other compensation. The average annual compensation for securities industry employees in New York has gone up 16.6% in two years to $362,950. Yet, despite firms making more money, they’re still laying people off—1,200 so far in 2012—this after shedding 20,000 positions since 2007. Bank of America alone dropped 12,624 employees over the past year.   read more

The multi-billion dollar “Medicare Advantage Quality Bonus Payment Demonstration” program, which was part of President Barack Obama 2010 health care reform, was supposed to give extra money to private plans that do a good job of providing high-quality care, Instead, the bonus payments have been given to “virtually all MA plans.”   read more

Of the $117 million spent by political action committees on advertisements concerning the presidential race since Labor Day, about 75% (or $80 million) have had anti-Obama messages. Overall, 90% of the ads have attacked either Obama or Romney, while less that 10% have had a positive message.   read more

Wells Fargo should have to pay for lying about bad home loans, according to a federal prosecutor who has sued one of the nation’s largest banks. Manhattan U.S. Attorney Preet Bharara is going after Wells Fargo for concealing problems with more than 6,000 loans that it submitted to the Federal Housing Administration (FHA), which insures private lending. Calling the loans “seriously deficient,” Bharara said the government lost $190 million when the mortgages failed.   read more

Their lips may say “yes,” but their contributions say “no way.” While publicly supporting President Barack Obama’s healthcare reform plan, health insurance companies have given millions of dollars to Republicans dedicated to repealing it.   read more