Follow the Money

A Review of Tom Cole’s Finances

Chairman of the Appropriations Committee, Tom Cole, purports to Represent the people of Oklahoma’s Fourth District, but his campaign finance reports tell a different story. His expenditures include transactions made at the Congressional Liquor store, to a $10,000 bill from a luxury ski resort, St. Regis Deer Valley. Who pays for this? Not Tom Cole. These expenses are paid for by “Cole for Congress.” But who backs “Cole for Congress?” Corporate PACs and lobbyists. This review of Tom Cole’s campaign finances represents more than just spending and fundraising; it reveals who Tom Cole truly represents. Cole claims to Represent everyday Oklahomans like you and me, so I took a deep dive to discover the truth. 

The Money In - Who Funds Tom Cole 

Tom Cole is coming with a war chest, has $2.5 million in cash on hand, and is expected to raise even more. In addition to millions in the bank, Cole benefits from the backing of the D.C. establishment, D.C. super-PACs, and a rolodex full of billionaire mega-donors. One of his top contributors includes the largest pro-Israel PAC in America. The American Israel Public Affairs Committee PAC has contributed over half a million dollars to Tom Cole. In just one day, this PAC contributed $6,500. How is this possible if contribution limits exist? PACs like this one often act as a conduit, allowing individual donations to pass through the PAC and flow to the candidate. This allows big lobbying groups to bundle and pass along hundreds of thousands of dollars from their wealthy network of donors while keeping their own contribution limit untouched. It is one of Washington’s quietest but most powerful money moves, and it exposes exactly how special interests keep their grip on politicians like Tom Cole. 

Need more proof? Just last cycle, Tom Cole raised $5.6M: 45% came from PACs, 49% from large individual donations, and only 4% from small individual contributions. Cole continuously remains at the top of the list when it comes to taking corporate funds, with over half a million dollars coming from 126 different corporate PACs. You may know some of them. Some include AT&T, Walmart, Microsoft, Boeing, UPS, Phillips 66, and many more. Cole relies on big corporations and powerful lobbying groups with special interests. This big money tied to special interests keeps Tom Cole out of touch with everyday Oklahomans. 

The Money Out 

The same pattern appears when you look at how he spends that money. The donations come from special interests, and the spending goes right back into luxury hotels, travel, fancy dinners, country clubs, extravagant fundraisers, catering, and other insider perks. This luxurious lifestyle reinforces the truth that Tom Cole is not one of us, providing a clearer understanding of his true priorities. 

 In 2022, Tom Cole was elected Chairman of the Wine & Spirits Wholesalers of America (WSWA). Shortly after, he invested in CoCo Vodka and The Bondi Distillery. According to Co-Founder and CEO Mark Convery, Cole discovered their beverage after a morning run, fell in love at first sip, and immediately reached out to invest that same morning. Sounds charming. But in fact, it is another example of how disconnected he has become. Additionally, one of the most compelling takeaways is the concentration of funds on specialized tobacco vendors–specifically cigars. In short, Cole uses his committee to spend thousands of dollars on cigars.

Beyond alcohol and cigars, Cole’s reports show high-dollar spending for luxury lodging at places like the Ritz-Carlton in Key Biscayne, the Four Seasons in Miami, Omni Homestead, and St. Regis. The luxury does not stop here. We have not even examined the food that such wealth can purchase—the dinner tabs. Thousands of dollars from “Cole for Congress” are being poured into D.C.’s priciest steakhouses, exclusive clubs, and resort restaurants. The kinds of places that lobbyists love, like Charlie Palmer Steakhouse, and prices most Oklahomans could never afford, like $24,259.20.  

Tom Cole is worth an estimated $8 million. Of those millions, $616,000 is held in individual stocks. This level of wealth places Cole out of touch with everyday Oklahomans. Oklahoma deserves representatives who represent the people—the everyday Oklahomans who live here. 

What It All Means - Oklahomans Pay the Price

Together, this all adds up. While working families are stretching every dollar, Tom Cole is busy growing his portfolio, keeping his cushy seat warm. He is powered by corporate PACs and wealthy interests who see him as an investment, not a representative. What we have here is a politician who is funded by big money, surrounded by insiders, and is benefiting from the very system he claims to want to fix. We do not have a representative for the Fourth District.

We, the people, elect leaders to serve and represent the people, not big corporations or special interests. Our Chairman of Appropriations has worked his way up to a great deal of power and influence and is no longer serving us—serving you. If we continue to permit this special interest-funded extravagance, we are enabling the rigged system. Wealthy lobbying groups and big corporations will continue to flood campaigns with cash and insert their influence. Consequently, leaving our priorities—the People’s priorities—to fall through the cracks. 

This has worked for Tom Cole for far too long. It is time to remind Cole that this seat cannot be bought; it must be earned. Congressional District 4 is not for sale. Oklahomans should not have to pay the price for the political games being played in Washington, where lobbyists and special interests trade influence like currency. And we deserve a representative who answers to Oklahomans, not billionaire mega-donors or out-of-state lobbyists. 

Conclusion 

Ultimately, we are going up against millions. The money coming in tells one story, and the money going out confirms—Tom Cole has a price. It is time to end this rigged system of top-down government and put the power back in the hands of the people. Back in the hands of small-dollar grassroots donations from people like you. Unlike Tom Cole, this campaign truly represents Oklahomans. We rely on everyday Oklahomans like you who want their government to work for them. It is not about the people who write the biggest checks. It is not about power. This is about you and the future of Oklahoma’s 4th Congressional District. This people-powered campaign can prove that our numbers can outmatch their millions. Now, it is up to you. Will you back someone who no longer represents you and is out of touch with Oklahomans? Or will you decide to put the power back in the hands of the people? 

_____________

Tom Cole Corporate Donors, Quiver Quantitative, https://www.quiverquant.com/congresstrading/politician/Tom%20Cole-C001053/donors.

COCO Vodka, Coco Vodka Announces Addition of Alcohol Industry Executive Tom Cole as Key Investor, EIN Presswire (Aug. 10, 2023), https://www.abc27.com/business/press-releases/ein-presswire/628645587/coco-vodka-announces-addition-of-alcohol-industry-executive-tom-cole-as-key-investor/

 Quiver Quantitative, Tom Cole — Net Worth, Quiver Quantitative, https://www.quiverquant.com/congresstrading/politician/Tom%20Cole-C001053/net-worth.

COLE FOR CONGRESS. Contributions from Individuals (FEC Schedule A) and Operating Expenditures (Schedule B), FED. ELECTION COMMISSION, (2023-2025), https://www.fec.gov/data/candidate/H2OK04055/