In a shock to Washington Inc., several companies restrict or suspend political contributions after the siege of the Capitol.
Why it matters: The politics of pandering to the mob has become too dangerous for many of America’s business leaders.
What is happening:
- JPMorgan Chase suspend all donations to 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 plenty of time for a campaign later.”
- Citi’s “I would like to say that in a letter to colleagues, Candi Wolff, head of global government affairs, said that the bank would suspend all contributions in the first quarter, and that thereafter,”[W]e will not support candidates who do not respect the rule of law. ‘
- Marriott International said the hotel giant would suspend donations “to those who voted against the certification of the election.”
- Blue Cross Blue Shield Association said it would suspend contributions to ‘legislators who voted to undermine our democracy’ by challenging the outcome of the Electoral College.
- Boston Scientific, the manufacturer of medical devices, stop all federal gifts.
- Goldman Sachs freezes donations through its PAC. The company told The New York Times it would do a “thorough assessment of how people behaved during this period.”
- Dow, the chemical giant, told Bloomberg he would not donate to lawmakers who voted to object to the certification for one election cycle – two years for those in the House and six years for senators.
- BlackRock said it would suspend all PAC donations, and ‘in the meantime conduct a thorough review of events and evaluate how we will focus our political activity going forward,’ ‘according to a memorandum from Axios.
- Airbnb said its PAC would withhold donations to lawmakers “who voted against certifying the outcome of the presidential election.”