Ten US companies cut donations to federal candidates by more than 90% in January, after pledging to cut donations to Republicans who supported former President Donald Trump’s bid to reverse his election defeat.
None of the PACs from the 10 major companies reviewed by Reuters, including Microsoft Corp, Walmart Inc, AT&T Inc, and Comcast Corp, donated to any of the 147 Republican members of Congress who voted in support of Trump’s claim just hours after the launch. Supporters. Fatal attack on the US Capitol building.
Disclosures to the Federal Election Commission ahead of the Saturday application deadline showed that those 10 companies’ group of PACs made $ 13,000 in new donations to the candidates in January.
These were the first reports by PACs to detail the contributions made since the January 6 Capitol attack.
The money donated during the month was less than a tenth of the nearly $ 190,000 that the ten PACs provided to candidates in January 2017, which is very small for the roughly $ 10 million donated to candidates during the 2019-2020 election season.
The 147 lawmakers who voted to nullify President Joe Biden’s victory received more than $ 2 million from those 10 committees during the last two-year political session.
Only commissions associated with two companies – General Electric and American Express – I mentioned any new donations to federal candidates in January.
American Express’ PAC awarded $ 5,000 to Republican Senator John Thon of South Dakota, while GE gave $ 5,000 to Representative Adam Kinzinger of Illinois, a prominent Republican critic of Trump, and $ 1,000 to actor Rick Larsen of Washington, who is a Democrat.
Political giving usually slows in the months following the US general election, and money from corporate political action committees is a small fraction of the money political campaigns raise.
But the dearth of corporate bids in January indicates a slower start in an aspect of political finance ahead of the 2022 mid-term elections.
Corporate PACs cannot donate money from a corporation’s treasury but generally act as a conduit for contributions from directors and shareholders.
Committees affiliated with Best Buy, State Street Corp, Dow Inc, and Nike Inc. did not report new donations to any candidates in January.
While more than a thousand PACs are linked to US companies, the 10 companies reviewed by Reuters include the major companies that have made clear public statements that they will scale back donations after the Capitol attack on January 6.