INTEREST GROUPS

INTEREST GROUPS

INTRODUCTION

Interest groups are associations of organizations or people that have equal interests or common concerns and are organized formally in order to influence the public policy towards to their favor. These groups vary in terms of purpose, size and tactics, the essay however focuses on political interest groups that try to influence the public policy through their representatives to states. They engage in processes such as lobbying to influence legislation.

Political candidates obtain their funding from different sources; amongst them are interest group that contribute largely to their finances. Focusing on finance, insurance and real estate sector; they have been in the lead in funding campaigns of federal candidates in the recent years. Insurance companies, securities and investment firms, real estate interest and commercial banks offer huge amounts of money to parties and candidates(). This sector initially contributed equally to both parties but as from 2010 it tended to bias the republicans. In the year 2014, this industry contributed half a billion dollars to political parties and candidates alike. Out of all the contributions 62% were given to the republicans

In 2012, the giving was even higher as the trend with presidential cycles, almost 70% of gifts went to GOP(). Bloomberg LP ;the financial holding company for real estate investments contributed 91% to democrats, $ 17.4 million worth went to super PAC, independence USA that was create by Bloomberg himself to elect candidates who shared his points of view on gun control, marriage equality and environment. The super PAC contributed majorly to democratic races (Alex Glorioso, 2016). Despite the mortgage crisis, the financial sector has donated $468.8 million to federal campaigns and to candidates during the 2008 elections. In 2012 elections, real estate sector contributed more than $ 162 millon to candidates, committees and outside money groups.

The political figures and their parties choose to be funded by financial sector majorly because they have a huge cash outflow that can help them during the campaigns. Financial sector contributes largely to the economy and they make a lot of revenue out of it. The politicians can easily obtain funds there. They might also be sharing the same ideas as those of financial sectors. For instance the huge taxation on this sector or the government regulations that need to be amended. Some politicians could also have interests in this sector, for instance an investment of large sums of capital.

Financial sector needs to be represented in government and needs someone who can air their views and help them repeal laws that are sabotaging in their operations, for instance hedging of funds or financial instruments to reduce risk including use of derivatives, tax oppositions and oversight by government of their balance sheets. According to Law 630, Chapter 11 bankruptcy code and different legislations were among the major concerns of this industry.

Most financial organizations that offer contributions to political parties hope to obtain an influence on decisions of politicians, they hope that the politicians will deliver on issues that they wanted addressed. They gain from this through political links that can make their operations easier. They can also influence laws made to regulate their operations, bills passed to favor them and also forming a positive relation  to the government for future benefits. If I were involved on issues concerning these kind of focus groups, I would advocate for better representation of politicians in the government.  Some politicians obtain funds, use them to get to top positions but cannot deliver to the people and advocate for change on issues affecting the citizens. Politicians should make a legal agreement on issues they will handle and ensure certain goals are achieved, if they will not be able to deliver at the end of their term , they should never be allowed to run for a political positions anywhere.

CONCLUSION

In conclusion, it is crucial to have political aspirants sponsored by institutions that can do so. This will enable leaders in positions that can advocate for change and bring about a revolution in development of the economy, health sector, human rights, education and the environment. Those that cannot afford to campaign can get an equal opportunity to compete freely and fairly. Both parties to the donations benefit and therefore is mutual and of substantial contribution to the betterment of citizens’ affairs.