Palo Alto Metropolis Council member Greg Tanaka, an avid advocate for digital foreign money, has obtained a $265,000 increase 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 assist 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 assist of candidates who perceive the position digital belongings can play in leveling the enjoying discipline and making a extra equitable society.”
These contributions from DAO for America are categorized as unbiased expenditures and, as such, usually are not topic to the identical limits as direct contributions to Tanaka’s marketing campaign. Based on filings with the Federal Election Fee, the committee used the funding for digital promoting, cellphone and textual content communication and direct mailings in assist 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 Methods 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 massive 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 contains Democrats Ajwang Rading and Rishi Kumar, Republicans Peter Ohtaki, Benjamin Solomon and Richard Fox, and John Fredrich, an unbiased.
Whereas Tanaka stays effectively behind Eshoo with regards to marketing campaign contributions, the unbiased expenditures from DAO for America signify greater than twice the quantity that his marketing campaign has raised in direct contributions. Based on federal filings, he has obtained $119,000 in contributions for his bid to exchange Eshoo.
As such, the unbiased expenditures give him a monetary edge over the opposite two Democrats who’re vying to exchange Eshoo in District 16. Kumar, who confronted Eshoo within the basic 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 almost 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 isn’t accepting any contributions from political motion committees. Rading, who grew up homeless, emphasizes the necessity to construct extra reasonably priced housing and switching to all renewable electrical energy by 2035.
Tanaka, in the meantime, has stood out for his fierce assist 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 town’s strikes lately to cap workplace improvement 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 stepping into the cryptocurrency enterprise by establishing its personal digital foreign money. Individuals would have the ability to get credit score for civic actions equivalent to attending council conferences or volunteering. Tanaka stated the brand new foreign money would shield town towards inflation.
“There’s a complete economic system that may develop round these city-specific tokens,” Tanaka stated on the council’s February retreat.
Though nobody on the council endorsed this concept, Tanaka has continued to espouse his assist 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 know the rising expertise.
Cryptocurrency, he argued, “represents monetary freedom.”
“It represents sound cash,” Tanaka stated. “It’s a strategy to permit most of the people to actually have wealth.”
Learn extra major election information, together with info on native races and measures, in our voter guide.
