In shock to Washington Inc., several corporations are restricting or suspending political contributions after the siege of Capitol Hill.
Why it matters: The policy of favoring the crowd has become too dangerous for many business leaders in America.
What is happening:
- JPMorgan Chase is pausing all offers for both parties for six months. “The country is facing unprecedented health, economic and political crises,” said Peter Scher, president of the Mid-Atlantic Region and head of corporate responsibility. “There will be a lot of time to campaign later.”
- Citi’s the head of global government affairs, Candi Wolff, said in a letter to colleagues that the bank will suspend all contributions in the first quarter, and that thereafter “[W]and we will not support candidates who do not respect the rule of law. “
- Marriott International he said the hotel giant would suspend donations “to those who voted against the election’s certification”.
- Blue Cross Blue Shield Association he said he would suspend contributions to “lawmakers who voted to undermine our democracy”, challenging the results of the Electoral College.
- Boston Scientific, the medical device manufacturer is pausing all federal gifts.
- Goldman Sachs is freezing donations through its PAC. The company told The New York Times that it will carry out “a thorough assessment of how people acted during this period”.
- Dow, the chemistry giant, told Bloomberg that it will not make donations to lawmakers who voted against certification for an electoral cycle – two years for those in the House and six years for senators.
- Black stone said it will pause all PAC donations and in the meantime “conduct a full review of events and assess how we will focus our political activity in the future”, according to a company memo obtained by Axios.
- Airbnb he said his PAC will withhold donations to lawmakers “who voted against certifying the results of presidential elections”.