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Corporate PACs shift giving from incumbents to GOP
WaPo ^ | May 21, 2010 | T.W. Farnam and Carol D. Leonnig

Posted on 05/21/2010 5:39:52 PM PDT by jazusamo

Corporate America is gambling on the minority in its political giving this year, assuming that Republicans will win big in the November midterm elections, an analysis of campaign finance reports shows.

The pattern represents a distinct change from a year ago, when Barack Obama was sworn into office and Democrats took control of Congress. Back then, corporate political action committees made a shift to the Democrats, giving 58 percent of their donations to the party. So far this year, only 48 percent of the contributions from big business are going to the Democrats.

The shift in political giving represents a calculated bet that Republicans may regain control, GOP fundraisers and political consultants say. It also breaks a pattern in which lobbyists and executives overseeing corporate largess gave more to the party in power.

Many other political winds have shifted behind Republicans in recent months, but the swing in money from corporate PACs is unusual. Corporations often give campaign contributions while seeking access and favor with incumbent lawmakers in position to shape legislation -- meaning they gravitate to the party in power.

The last time corporate PACs made such a dramatic shift to the Republicans was in 1995, following the Democratic rout in the 1994 midterms. This time, corporations have switched sides before the election.

The change comes as top Republicans lawmakers appeal more directly to business leaders, putting them on notice that the GOP is keeping track of the corporate donations ledger and will remember who stood by the party. As part of an effort dubbed "Sell the Fight," House Republican leaders have met privately with corporate executives and lobbyists to argue that their giving has tilted too far toward Democrats and that they need to steer more money to industry-friendly GOP candidates in key races in 2010.

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Politics/Elections
KEYWORDS: corporate; donations

1 posted on 05/21/2010 5:39:53 PM PDT by jazusamo
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To: jazusamo

Sounds a lot like prostitution (with a touch of sugardaddyism thrown in for good measure). I despise it.

But at least, every dollar that isn’t going to a dimowit has a plus in it somewhere.


2 posted on 05/21/2010 5:48:32 PM PDT by Migraine (Diversity is great... ...until it happens to YOU.)
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To: Migraine

Well said. They’re going to look out for themselves no matter what.


3 posted on 05/21/2010 5:56:06 PM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: jazusamo

The comment section in the Wash Post on this article is ripe with typical vulgar liberal lunacy. They are becoming more and more unhinged every day. Looks to me like a lot of them can’t afford their meds any more.


4 posted on 05/21/2010 6:20:00 PM PDT by skimask ("To repeat what others have said, requires education; to challenge it, requires brains.")
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To: jazusamo

don’t worry their philanthropy wings still overwhelmingly support leftist causes.


5 posted on 05/21/2010 6:37:31 PM PDT by GeronL (Political Correctness Kills)
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To: skimask

LOL!

You’re probably right or they’re getting too senile to remember to take them. :)


6 posted on 05/21/2010 6:37:43 PM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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