Palo Alto Metropolis Council member Greg Tanaka, an avid advocate for digital foreign money, has obtained a $265,000 enhance from a political motion committee dedicated to cryptocurrency in his bid to unseat Rep. Anna Eshoo in Congress.
DAO for America, a political motion committee established to help candidates who advocate for cryptocurrency, made six contributions to Tanaka in Could totaling $265,250. The group’s web site states that it’s mobilizes voters “in help of candidates who perceive the function digital belongings can play in leveling the enjoying discipline and making a extra equitable society.”
These contributions from DAO for America are categorised as impartial expenditures and, as such, will not be topic to the identical limits as direct contributions to Tanaka’s marketing campaign. In line with filings with the Federal Election Fee, the committee used the funding for digital promoting, telephone and textual content communication and direct mailings in help of Tanaka.
Tanaka is one of seven candidates trying to unseat Eshoo, who was first elected in 1992 and who enjoys a commanding lead in money raised over the sector, with about $1.48 million in direct contributions from people and political motion committees, together with these affiliated with tech giants Utilized Supplies, Varian Medical Techniques and Lockheed Martin.
The highest two vote-getters within the Tuesday major will advance to the November poll, no matter political affiliation. The closely Democratic district stretches alongside the coast from Pacifica to northern San Jose and encompasses giant sections of San Mateo and Santa Clara counties, together with Palo Alto, Mountain View, Woodside, Portola Valley and parts of Menlo Park and Atherton.
Along with Eshoo and Tanaka, the sector consists of Democrats Ajwang Rading and Rishi Kumar, Republicans Peter Ohtaki, Benjamin Solomon and Richard Fox, and John Fredrich, an impartial.
Whereas Tanaka stays properly behind Eshoo with regards to marketing campaign contributions, the impartial expenditures from DAO for America signify greater than twice the quantity that his marketing campaign has raised in direct contributions. In line with federal filings, he has obtained $119,000 in contributions for his bid to interchange Eshoo.
As such, the impartial expenditures give him a monetary edge over the opposite two Democrats who’re vying to interchange Eshoo in District 16. Kumar, who confronted Eshoo within the common election two years in the past, reported $294,440 in contributions for the present bid. Rading, an legal professional who had served on workers of U.S. Sen. Cory Booker, raised $233,339. Each have obtained practically all their funding from particular person contributions. Rading has reported a complete of $500 from committees whereas Kumar has not obtained contributions from any committees.
The three Democratic challengers have emphasised totally different points throughout their campaigns. Kumar, a high-tech government who serves on the Saratoga Metropolis Council, is a proponent of time period limits in Congress who shouldn’t be accepting any contributions from political motion committees. Rading, who grew up homeless, emphasizes the necessity to construct extra inexpensive housing and switching to all renewable electrical energy by 2035.
Tanaka, in the meantime, has stood out for his fierce help for cryptocurrency. A tech entrepreneur, he was elected to the Palo Alto council in 2016 and has been a constant advocate for enterprise pursuits. He has opposed the town’s strikes in recent times to cap workplace growth and he’s the one council member who’s opposing Palo Alto’s current attempt to institute a business tax.
Earlier this 12 months, Tanaka made a pitch for Palo Alto entering into the cryptocurrency enterprise by establishing its personal digital foreign money. Folks would have the ability to get credit score for civic actions reminiscent of attending council conferences or volunteering. Tanaka mentioned the brand new foreign money would defend the town towards inflation.
“There’s a complete financial system that may develop round these city-specific tokens,” Tanaka mentioned on the council’s February retreat.
Though nobody on the council endorsed this concept, Tanaka has continued to espouse his help for cryptocurrency. At an April dialogue with Cityroots DAO, a platform for cryptocurrency discussions, Tanaka criticized present legislators and policymakers for his or her failure to grasp the rising expertise.
Cryptocurrency, he argued, “represents monetary freedom.”
“It represents sound cash,” Tanaka mentioned. “It’s a technique to permit most people to really have wealth.”
Learn extra major election information, together with data on native races and measures, in our voter guide.
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