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Colbert super PAC reports $1 million in donations

Stephen Colbert
Comedian Stephen Colbert collects cash donations on the sidewalk in front of the Federal Election Commission in Washington June 30, 2011. AP Photo

The super PAC run by comedian Stephen Colbert -- Americans for a Better Tomorrow, Tomorrow -- reported to the Federal Election Commission (FEC) early Tuesday morning that as of Monday, it had collected $1,023,121.24 in donations.

Colbert's super PAC, often discussed on his Comedy Central satirical show "The Colbert Report," has helped shed light on the significant role super PACs have played in this election cycle, spending millions of dollars to back political candidates. All campaigns and super PACs have until the end of Tuesday to report their finances to the FEC.

Along with its financial disclosure report, Colbert's group filed a memo with a statement from Colbert, which said, "Yeah! How you like me now, F.E.C? I'm rolling seven digits deep! I got 99 problems but a non-connected independent-expenditure only committee ain't one!"

Super PACs allow donors to pour unlimited money into a campaign to support or attack a political candidate. The super PACs must remain technically unaffiliated with the candidates, but they are often run by a candidate's former staffers or close colleagues.

For instance, Newt Gingrich's former presidential campaign spokesman Rick Tyler is now a senior adviser for the pro-Gingrich super PAC Winning Our Future. That super PAC has been able to give a much-needed boost to Gingrich's White House bid, thanks to $10 million in donations from Las Vegas billionaire casino owner Sheldon Adelson.

For a short period of time, Americans for a Better Tomorrow, Tomorrow was run by Colbert's Comedy Central colleague Jon Stewart. With the super PAC out of Colbert's control, the group ran a series of television ads to back Colbert's short-lived run for "president of the United States of South Carolina." Since Colbert couldn't get on the Republican primary ballot in South Carolina, the super PAC urged voters in the state to vote for Herman Cain.

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