Breaking News
Firms Suspend Political Donations In Wake of Riot
Starting this week, major firms started to suspend political donations in the wake of the Capitol riot last week. Citigroup said it will hold off on all political donations for the first quarter of 2021. Meanwhile, Marriott International announced they are suspending donations to 147 Republican lawmakers. Specifically, they withheld support for objectors to the Electoral College count last week.
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Citigroup Halts All Federal Donations
Citi announced that it will stop all federal contributions for the time being. Candi Wolff, head of global government affairs, said Citi “will not support candidates who do not respect the rule of law.” She added, “We support engaging with our political leaders even when we disagree, and our PAC is an important tool for that engagement.”
In 2019, Citigroup donated $1,000 to the campaign of Republican Senator Josh Hawley. Hawley hails from Montana. a state where the company employs a lot of workers. In total, Citi’s political action committee gave $742,000 to federal candidates last year. $413,500, or more than half, went to Republicans.
Other Companies Following Suit
Boston Scientific, a medical devices firm, also announced it is suspending its donations. In addition, the company will review its approach to political donations. The company will reconsider helping those who support “the integrity of the democratic process, the election outcome, and the peaceful transition of power.”
Meanwhile, the Blue Cross Blue Shield Association will also suspend donations to lawmakers who objected to the Electoral College results. The association, a health care group representing 36 regional and local insurers, will revisit their policies on donations.
Kim Keck, CEO, and president says its support to politicians who work to “build a stronger, healthier nation” will continue.
Marriott said on Sunday that they have considered “the destructive events at the Capitol to undermine a legitimate and fair election into consideration.” All lawmakers who objected will not receive their usual support from Marriott. Last 2019, Marriott, through its PAC, donated $108,500 to Democrats and $89,500 to Republicans.
JPMorgan Also Halting its Donations
JP Morgan, one of the country’s largest banks, announced they will stop federal donations to politicians for the next six months. Peter Scher, head of corporate responsibility, said that “The focus of business leaders, political leaders, civic leaders right now should be on governing and getting help to those who desperately need it most right now. There will be plenty of time for campaigning later.”
During the 2019-2020 campaign, JPMorgan raised around $900,000 and gave 60% to Republicans. Since 2017, JPMorgan’s PAC gave $2,000 to a committee headed by Hawley. Like other big financial firms, JPMorgan’s also have employees who donate directly to individual politicians. Given the development, even other employees and CEOs are now considering withholding political contributions.
Trump Campaign Also Hit
The Capitol riot not only affected political contributions. It also took a toll on President Donald Trump’s campaign fund and his business interests. Digital payment company Stripe announced they will stop processing payments for the Trump campaign website. The Trump campaign site still accepts donations. Funds raised will help pay for current court cases contesting the election results.
In addition, the Professional Golfer’s Association (PGA) announced it will no longer hold its 2022 premier championship at Trump’s Bedminster course. PGA CEO Seth Waugh said that “We're fiduciaries for our members, for the game, for our mission, and for our brand. And how do we best protect that? Our feeling was given the tragic events of Wednesday that we could no longer hold it at Bedminster. The damage could have been irreparable. The only real course of action was to leave.”
Watch the Business News feature reporting that four major corporations are suspending contributions through their corporate PACs to Republican lawmakers involved in the Capitol riots:
Loading ...Considering the effect of the Capitol events last week, companies began reconsidering support. Do you agree with companies who decided to suspend political donations? Also, are political contributions even necessary at this point? Let us know what you think by commenting below.
25 Comments
Donations are fine, if you believe the candidate stands for what you believe.
I feel these donations are being used to line politicians pockets and causing them to swing to the donors political agenda in many cases….we dont know what a candidate truly stands for…without any donations we can better know who to support and vote for
The Congressional Republicans did NOT participate in the march or the break-in at the Capitol. They hid in the basement with the rest of the anti-American ‘rats. This incident seems way too suspect for me to believe that it was a destructive riot. I was there at the march. While we were expressing disappointment that the President in his speech was not going to do anything to stop the steal or do anything to the lawless dems and that he was only re-hashing what we already know, we weren’t incited by him.
LET GO AND LET GOD. HAVEN’T YOU ALL SEEN ENOUGH, DON’T YOU GET IT.REAF YOUR BIBLE.JUST LIKE I TOLD EVERYONE WHEN TRUMP WAS IN OFFICE GOD WOUKD INTERVENE. IT IS NOT OUR TIME SCHEDULE IT IS THE LORD’S. WHEN WILL FOLKS GET IT.PRAYER IS POWERFUL.
I believe there should be a cap placed on political contributions. The Campaigns should be about ideas and what the candidate stands for, Not about How Much Money raised. Billions of dollars were raised not knowing where it all went. The money raised could be better spent on helping other people in need, especially during times like the Pandemic. Not on wasteful advertisements and staff salaries I believe not only should there
be election reform, but their should be standards for political campaigning.
The election was a Big joke… there was nothing fair about it. Unless we reform the election and stop using Mail in ballots 🗳 because you can’t check them to see if they are right.
My vote is not registering!
I believe that if these people are mostly the rich that run they should use their own money to support their campaign or some funds from friends and/or family. Companies should use any funds they have to donate to the people that can really use it. Also the woman that says that mail in ballots should be stopped should be in a nursing home, over seas, to ill to get out so that she can’t vote in the election. During this period of time a lot of people were using mail in ballots to stay away from others due to the virus. She would sure to claiming mail in ballots are okay so she could vote.
I feel all government officials should not get money of any kind. I worked for government and was not able to even take anything above 10 dollars. Every government employee is hired by the people and are working for the people, not anyone else. Money is the root of all evil. Follow the money and you are following the corruption.
Donations use to be just that but now too much money being thrown around and it’s who has more. Bribes are most likely being done or pork promises. No donations or limits of small amounts only.
What republican senators were part of the riots? NONE. This is not right. You are making the narrative that what took place is only republicans fault. This is both parties anger and ongoing hate speeches and talk of socialism that got us all here. Democrats deceit, lies, propaganda of socialism NWO, GND, got us here with the help of their BLM/Antifa riots in our city streets.
I, too think there are too many donations that are attached to bribes. Yes, limit the amounts.
Personal donations with amount restrictions should be permitted. Donations from unions, corporations, activist groups, and other businesses should not be permitted.If an organization wants to publicly announce their support for a candidates platform, fine, but no monetary contributions.
These people have 6 figure salaries that we pay so why in the hell do they need more money. A police officer cannot accept a free cup of coffee and he or she are risking their lives to protect the people so why should politicians e allowed to accept corporate money?? I believe that would be called BRIBERY!!!!! Enough of the rich getting richer on the working mans back. If they are getting corporate money then reduce their salary to minimum wage…..
I think it is down to the individual companies.
It is their money, so they can do what they want with it.
I do not disagree with donations – per se. But, I can see it opens the (large) door to corruption.
I think all donations – over a certain amount – should be subject to very close scrutiny.
Sharon- it’s the LOVE of money that’s the root of all evil- I wish people would read the whole Bible and not just parts that suit them-
Political donations by Corporations are a form of treasonous control of the government. Any donation over a certain low amount should be BANNED. If attempted, the amount should be confiscated for use in reducing the NATIONAL DEBT and a large fine should be levied as well!
No firm should be able to give political donations period that’s one of our big problems companies buying influence no more donations should be allowed just money from citizens of the United States 🇺🇸 should be allowed no company money no corporate money no international money 💰 just small donations period full stop.
CORPS SHOULD HAVE A LIMITED AMOUNT OF DONATIONS ALLOWED PERIOD.
These donations are why we have such a swamp in this country. There should be a limit on the amount of donations. They should also stop these lobbyist who work to fill the pockets of those in office who will vote to help them. Why do you think so many of these people run for office the one reason is for the money. Greed is the main reason for most to run for office and i realize the temptation is great. Just remember the bible tells us the LOVE of money is the root of all evil.It also says inter you in at the straight gate for wide is the gate and broad is the way leads to distruction and many there be go in.
We no longer have even one politician (Except Pres. Trump)(And he is not a politician) who is not feasting at the public trough. The corruption in Washington, on both sides of the isle, is beyond the average persons belief or imagination. They all should be voted out.
The Founding fathers, with their infinite wisdom, never dreamed of “Career” politicians.
Follow the money as the saying goes. No group donates without expecting a political favor, whether it be in direct or indirect financial consequences. Only private individuals should be allowed to contribute. Large amounts of in cash donations control the outcome of many of the elections.
I dont approve of political donations. elections have turned into who gets the most money wins. that is not the way our founding fathers created it. now it is just buying votes. and then they have to make good on the promises made for those votes. Term limits would work well to keep the career politicans out as well.
All of a sudden we see these holier than thou companies trying to claim the high road. Where were they when this country was in flames and ruin all summer from the likes of BLM and Antifa burning and looting their customers? NOWHERE! I would have expected Marriott would be involved in this. Gov. Pritzker of the failing state of Illinois is a major enemy of Pres. Trump and the Pritzker Group owns the Marriott chain. These companies are hypocrites much like the liberal media trying to make themselves look honorable. What a sham!
Only brain dead liberals will fall for this.
I believe GOD will intervene but it is upsetting that when the BLM, Antifa riots killed innocent Women and Men of all Colors both Cops and Civilians as well burnt down innocent people businesses and police stations the left said and did nothing! As well when the Left went to Capitol Hil and went inside it’s like short memories on the left side! there is EVIL at foot and GOD CANNOT INTERVENE IF We the People do what We want! Be Still, Be Silent and Wait on the LORD!!!! Evil will NOT Win!!!