Politics

Republican Donations Surge Despite Corporate Boycott After Capitol Riots

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Right after the deadly insurrection at the U. S. Capitol, dozens of U.S. companies announced they would halt political donations to the 147 Republican lawmakers who voted to overturn Donald Trump’s presidential election loss. Two months later, there is little sign that the corporate revolt has done any real damage to Republican fundraising.

Missouri Senator Josh Hawley and Georgia Representative Marjorie Taylor Greene – have been rewarded with a flood of grassroots donations, more than offsetting the loss of corporate money.

And contributions from both small donors and rich individuals looking to fight the Democratic agenda have poured into the party’s fundraising apparatus.

The boycott’s limited impact underscores the diminishing role of corporate money in U. S. politics. Individual donations of $200 or less have made up a growing share of campaign money in recent years, while the share given by corporate America shrinks. That trend has accelerated with the rise of anti-establishment figures on both the right and left, such as Trump and progressive firebrand Bernie Sanders, a Vermont senator.

Reuters examined contributions by more than 45 corporate donor committees that vowed to cut off the 147 Republicans – eight senators and 139 members of the House of Representatives. The review found that the political action committees (PACs) gave about $5 million to the lawmakers during the 2019-2020 election cycle – or only about 1% of the money the lawmakers raised, according to Federal Election Commission (FEC) disclosures.

By comparison, Republican fundraising operations supporting Senate and House candidates raked in a combined $15.8 million in January alone on the strength of small-dollar donations. These groups outraised their Democratic counterparts by more than $2 million that month, regulatory filings show.

Interviews with Republican operatives, big-money donors and fundraisers revealed little apprehension that corporate outrage over the Jan. 6 Capitol riots would damage the party’s fundraising for the 2022 congressional elections.

Dan Eberhart, a major Republican fundraiser, said he had predicted for years that Trump’s support would collapse. He believed the Capitol insurrection would be the tipping point.

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