Committee post translates into big money from big banks for Mia Love

The Mia Love money train keeps on rolling, now with the help of the nation's biggest banks hoping to stay on the good side of a freshman member of the Financial Services Committee.

The latest campaign-financial reports, due Wednesday, show that Love, R-Utah, raised $515,000 from April through June. That is becoming a standard amount for Love and is far more than her Utah colleagues are used to amassing.

Four-term Rep. Jason Chaffetz, R-Utah, for example, had a solid fundraising quarter for him, bringing in $145,800.

For the past few years, Love, the 4th District representative, has cultivated a nationwide network of small donors, whom she reaches through mailers and emails. Some of that material has focused on her historic status as the first black Republican woman elected to Congress.

She pulled in $208,900 from these small donors, who gave less than $250 each.

Since she joined the House in January, Love also has been able to attract more money from political-action committees formed by fellow politicians, corporations and special interest. She took in $160,000 from such committees in the second quarter, and a number appear to be due to her committee assignment.

She received a maximum contribution ($5,400) from Charles Schwab, the famous investor, and she got big donations from the PACs of Bank of America, Bank of New York Mellon, Citigroup, JPMorgan Chase, NASDAQ, Goldman Sachs and more.

The tie between contributions and committee assignments is well established. As an example, Chaffetz saw a spike in contributions from postal worker unions in 2010, when he led a subcommittee looking into the budget problems of the U.S. Postal Service. At that time, David Levinthal, spokesman with the Center for Responsive Politics, called such contributions the "icky symbiosis of politics, where the people who are making the rules that govern a particular industry or special interest are also receiving the most money from those industries and special interests."

Overall, Love has $619,000 in her campaign cache. She defeated Democrat Doug Owens in 2014 by about 4,000 votes. Owens is considering a 2016 rematch, but has yet to file his declaration of candidacy. He also declined to comment Wednesday.

Love released a brief statement, which in part said: "I am incredibly appreciative of the faith and trust my donors have placed in me."

None of Utah's other three House members has an announced, or even rumored, challenger at this point.

Chaffetz has $402,000 in available money for his expected run at a fifth term in Utah's 3rd District. Two-term Rep. Chris Stewart, R-Utah, who represents the 2nd District, has $181,900 in available funds after raising $71,400 last quarter.

Seven-term 1st District Rep. Rob Bishop, R-Utah, has yet to file his report.

mcanham@sltrib.com