Money Talks

In politics, money follows power.

That’s why heading into the 2006 election, Democrats in the N.C. General Assembly hold a wide edge over Republicans in campaign money, according to an Observer analysis of new finance reports.

Democratic lawmakers have nearly $2 million more as they start a campaign to keep control of the House and Senate.

They were boosted by support from political action committees and strong fundraising by embattled House Speaker Jim Black. The Matthews Democrat, at the center of fundraising and other controversies, remained a magnet for influence-seekers. He accounts for one in every five dollars House members have.

"(Democrats) are able to parlay their political muscle into a financial advantage," says John Davis, who, as executive director of the pro-business NCFREE, has analyzed legislative politics for 20 years. "And 85 percent of the time, the one with the financial advantage wins the campaign."

Black raised $704,000 in 2005, more than any other lawmaker. He has $1 million in the bank.

"When people ask whether the Jim Black scandal hurts the Democrat Party … a lot of times they will point to the amount of money (he) has raised," says Bill Peaslee, chief of staff for the state GOP. "My answer is, `There’s a short session coming up and there’s still a lot of legislation these people want to influence.’ " The legislature’s next session begins in May. (more…)