Companies target GOP with fundraising pullback. How much will it matter?

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The pullback of political giving by some of the country's most prominent companies -- a move triggered by the siege on the United States Capitol by a mob of President Donald Trump's supporters -- unevenly affects Republicans, but is unlikely to hamper the party's overall fundraising ahead of the 2022 cycle. In the days after the insurrection on Capitol Hill, more than two dozen companies announced they are either reevaluating their political giving strategies or withholding financial support for lawmakers -- for now -- including some businesses that are specifically halting donations to those Republicans in Congress who objected to the outcome of the 2020 presidential election last week. It's a dramatic defiance within corporate America, which historically lines the parties' pockets with hundreds of millions of dollars in an election cycle, and could especially hurt Republicans who rely relatively more heavily on contributions from corporate political action committees, or PACs.

have made far more political contributions than the company's PAC has over the past decade.

AT&T and Comcast, among the companies that are cutting ties with the more than 100 Republican lawmakers who challenged the election results, represent some of the biggest corporate PAC players across the aisle, but especially for Republicans. Their corporate PACs exert as big of an influence as individual contributions from their executives and employees, the PACs collectively funneling at least $5-6 million to federal candidates and committees of both parties every cycle.

The question remains whether such corporations will halt contributions to fundraising vehicles associated with these GOP lawmakers outside of their campaigns -- such as leadership PACs and national party committees. Marriott, which also publicly broke with the Republicans objectors, said their pledge involved leadership PACs associated with those members, and that the company's PAC does not donate to national party committees."I've been given the opportunity to help Republicans regain control of the Senate and that is exactly what I'm going to do," Scotton Thursday in response to a story about his ability to successfully haul in cash for the committee.

"Lawmakers' actions leading up to and during last week's insurrection will weigh heavy in our evaluation of future support. And we will continue to look for ways to support those policymakers who reject the politics of division and work together to move our country forward," said Emily Seidel, CEO of Americans for Prosperity and a senior adviser for AFP Action, the group's super PAC, in a statement first reported by Politico.

 

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