ICYMI: Corporate America Forgives the Sedition Caucus
WASHINGTON, D.C. — A new opinion piece in the New York Times highlights the hypocrisy of several leading U.S. businesses and industry groups which, in the immediate aftermath of the January 6th attack on the Capitol, swiftly stopped contributing to lawmakers who voted against certifying the 2020 Election results — only to quietly resume their political giving once the dust settled.
“No matter how much they want to, corporations can’t have it both ways: They can’t claim to support democracy and the rule of law while also donating to lawmakers who voted to undermine the election results,” said Kyle Herrig, president of Accountable.US. “If businesses think Americans have stopped paying attention to their actions now that the dust has settled at the Capitol, they’re wrong. Companies donating to members of the Sedition Caucus are making it clear that democracy takes a back seat to their bottom lines — and their customers, staff, and communities are watching.”
Accountable.US called on members of and donors to the U.S. Chamber of Commerce who previously announced they would suspend political giving due to the January 6th Capitol insurrection to disassociate from the organization in light of the Chamber’s decision to resume political contributions to members of Congress — including those who voted against certifying the results of the 2020 presidential election.
Learn more about the group’s efforts here.
The New York Times: Corporate America Forgives the Sedition Caucus
By Michelle Cottle, June 16, 2021
The swamp is healing.
The early months of 2021 were rough for many members of Congress, as they confronted every politician’s worst nightmares: a major disruption to the usually reliable gusher of corporate campaign cash.
Following the Jan. 6 sacking of the U.S. Capitol by MAGA zealots high on Donald Trump’s lies about election fraud, a host of corporate PACs and industry groups announced reviews of their policies on political giving. From Bank of America to Disney, from Microsoft to Raytheon to the U.S. Chamber of Commerce, many of the nation’s big donors hit the pause button. Some suspended all contributions to congressional races. Others drew up a more targeted “no-fly” list featuring members of the so-called Sedition Caucus, the 147 Republicans who voted on Jan. 6 to overturn the election results.
But as the election and pandemic traumas fade, corporate America is easing, quietly, back into the giving game. Lobbyists are suiting up. Fund-raising events are on the calendar. Wallets are reopening. It will take a while yet for the giving to return to its normal, obscene levels, but the trajectory is once more headed up — with the trend expected to accelerate in the coming months.
A new analysis by CQ Roll Call crunches the latest campaign finance data and reveals some of the notable players who have loosened the purse strings in recent weeks. For instance, reports Roll Call, “the top business and industry PACs contributing to the 147 GOP lawmakers were major defense contractors such as General Dynamics, as well as Duke Energy, American Crystal Sugar Co. and PACs connected with the Associated Builders and Contractors and the National Association of Realtors.”
As one industry player resumes donations, the path gets cleared — and the pressure increases — for others to follow suit. Morgan Stanley’s PAC resumed giving in February, while the American Bankers Association PAC did so in March, noted Reuters. Citigroup announced earlier this month that its PAC will resume contributions on a case-by-case basis. Similarly, JPMorgan will restart its PAC giving, although the company reportedly will steer clear of the Sedition Caucus — for now. After the midterms, the financial giant will revisit its decision, according to Reuters.