While Michael Bloomberg continues to fund his presidential campaign with nearly $100-million of his fortune, he’s also spreading his wealth around to dozens of House Democrats running for re-election in 2020. As Axios reports:

Mike Bloomberg will donate$10 million this week “to defend vulnerable Democratic House members against paid Republican attacks on their support for impeachment proceedings” in 2020, the Washington Post reports.

Why it matters: We’re told Bloomberg sees House Democrats as a counterweight to President Trump — the reason he was the biggest outside individual spender on Democrats during the 2018 midterms.

  • Bloomberg is also giving $5 million to Stacey Abrams’ voter-protection efforts.

As Axios notes, if Bloomberg is hoping to win the nomination at a contested convention, he’s going to need the support of a lot of delegates. What better way to make friends than to fill their campaign coffers with much-needed cash?

House Speaker Nancy Pelosi loves the idea, according to the Washington Post. 

The money, which is meant to even an arms race on the 2020 congressional battlefield, was cheered by House Speaker Nancy Pelosi (D-Calif.), who has been fielding concerns from some of her members over a costly Republican advertising offensive as the House moves toward an impeachment vote next week.

“In 2018, Mayor Bloomberg was a critical ally in helping House Democrats regain the majority,” Pelosi said in a statement. “Now, the stakes are even higher as we work to make health care more affordable by reducing the skyrocketing cost of prescription drugs, increase wages and root out corruption. We welcome and thank Mayor Bloomberg for his support.”

I bet she does. Every dime from Bloomberg’s bank account is another dime they can use to compete with the GOP in the 2020 elections. Meanwhile, Bloomberg claims his campaign largesse is all about the Constitution.

“Sadly Republicans are more interested in protecting the president than the Constitution,” Bloomberg, who supports impeaching Trump, said in a statement. “Fortunately House Democrats are holding the President accountable, and they need resources to stay in office.”

No pun intended, but it’s rich of Bloomberg to say he’s interested in protecting the Constitution, given his attempts to gut the Second Amendment and turn the right to keep and bear arms into a privilege.

I suspect what this is really about is building (or buying) good will among Democrats in the hopes that they’ll end up backing Bloomberg if the Democrats’ presidential primary leads to a contested convention. Follow the money, and it leads back to Michael Bloomberg’s dreams of occupying the White House.