Former New York City mayor Michael Bloomberg has pledged to spend at least $80 million on political campaigns in support of Democrats for the 2018 midterm elections.

The bulk of the money will go towards Democratic candidates in order to secure Democratic control of the House of Representatives following a seven year period of Republican rule. The action aims to restore bipartisanship within Congress following a two year period during which “Congress has accomplished very little,” said Bloomberg.

In a statement released Wednesday, the billionaire attributed the government’s ineffectiveness to the Republicans’ failure to encourage bipartisanship.

“Republicans, who control both houses of Congress, have done little to reach across the aisle to craft bipartisan solutions,”  he said.

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According to the former mayor, Republican House leadership has also been “absolutely feckless” for failing to exercise proper oversight of President Donald J Trump’s administration.

Bloomberg is a registered Independent, but has shown support of both political parties in the past based on key issues, believing in the importance of putting “country before party.” In 2016, the billionaire endorsed both Republican candidate Pat Toomey and Democratic candidate Maggie Hassan for Senate due to their shared support of stricter gun control legislation.


According to Bloomberg’s aides, the money will primarily go towards supporting candidates who share his relatively moderate political orientation. The effort will be overseen by Bloomberg advisor and former executive director of the Democratic Congressional Campaign Committee, Howard Wolfson.

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The effort poses a threat of upending the financial advantage Republicans have enjoyed in past elections. While Republicans previously benefitted from running advertisements in wealthy suburbs, these areas have since experienced a growing anti-Trump sentiment according to the New York Times. One that Democrats now have the opportunity to capitalize on due to their increased funding. The party needs 23 congressional seats to win a majority.

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