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https://news.yahoo.com/even-more-companies-give-to-sedition-caucus-170717866.html
Even more companies that pledged not to give to 'sedition caucus' have
reversed course
Ben Werschkul
Washington Correspondent
Tue, October 4, 2022 at 10:07 AM
In the hours after the Capitol riot nearly two years ago, 147 US
lawmakers voted to overturn the 2020 election — effectively buttressing
the false case of Donald Trump and his supporters who had resorted to
violence.
The outcry from corporate America came quickly, with hundreds of
companies vowing to stop donations to lawmakers who would eventually be
known by opponents as the "sedition caucus."
While the backsliding began within months, two reports out in recent
days show how most of those companies reversed course and resumed those
donations. The reports come just weeks before midterm elections that
will determine which party controls the House of Representatives and the
Senate.
One compilation from Citizens for Responsibility and Ethics in
Washington (CREW) found that out of nearly 250 companies that said
they'd no longer support election deniers, more than two-thirds have
resumed donations at this point.
Another analysis from a group called Accountable.US highlights companies
that have given in August for the first time since the riot. New names
there include the PACs for Allstate (ALL) and Mastercard (MA).
The continued checks come as Republicans are expected to regain some
power in Washington even after a few good months for Democrats. Those
months have included a relatively robust job market and the passage of
the landmark Inflation Reduction Act, which tackles climate change,
lowers prescription drug prices, and shores up funding for the Internal
Revenue Service.
“We've gone from a red wave to a red puddle or a red trickle, however
you want to frame it, but I am still as confident as ever that the House
of Representatives is going to flip,” BTIG Director of Policy Research
Isaac Boltansky recently told Yahoo Finance Live.
The new donations
It's likely some companies have reversed course to court some of these
soon-to-be prominent Republican lawmakers. Insurance giant Allstate is
just one example. They pledged to suspend contributions in 2021 and then
“monitor and measure each lawmaker’s ongoing conduct.” Then, this
August, the company's political arm gave money to Reps. Ralph Norman
(R-SC) and Earl “Buddy” Carter (R-GA), who both voted not to certify Joe
Biden’s victory.
Likewise, Mastercard suspended donations in 2021 and promised to
“continue to review the criteria that inform our political contributions
to ensure they reflect our values.” In August, its money went to figures
in both parties, including Rep. Blaine Luetkemeyer (R-MO), who also
voted against certification.
Allstate and Mastercard didn't respond to requests for comment from
Yahoo Finance.
If Republicans take control of Congress in 2023, lawmakers who receive
these checks could wield considerable influence. Both Norman and
Luetkemeyer serve on the influential House Financial Services Committee.
Meanwhile, Luetkemeyer is also the ranking member on the House Small
Business Committee, while Carter aims to chair the House Budget
Committee in 2023.
Representative Blaine Luetkemeyer questions US Secretary of Health and
Human Services Alex Azar as he testifies before the House Select
Subcommittee on the Coronavirus Crisis, on Capitol Hill in Washington,
DC, on October 2, 2020. (Photo by J. Scott Applewhite / POOL / AFP)
(Photo by J. SCOTT APPLEWHITE/POOL/AFP via Getty Images)
‘It is worth risking their bottom line’
In total, Accountable.US says that Fortune 500 companies and corporate
trade associations have now sent $27.3 million to these lawmakers, with
$1.6 million in donations in August alone.
The group says that candidates could pay in November, pointing to a poll
from this summer from Data for Progress, a liberal polling outfit, that
found a majority of voters would be less likely to buy from companies
knowing that they'd given to election deniers.
“It’s clear many companies believe it is worth risking their bottom line
just to curry favor with more politicians, no matter what they’ve done
to undermine democracy,” Accountable.US spokesperson Lindsey Melki said
in a statement.
The researchers at CREW peg the total donations at $44 million, higher
than the figure Accountable.US provided. CREW counts donations directly
to campaigns as well donations to Republican leadership PACs, which use
the funds to support many of these same lawmakers. CREW adds that
companies and trade associations that had pledged to suspend donations
have given more than $12 million alone.
Back in 2021, one might have thought that election deniers would be
become pariahs. But nearly two years later, the opposite has largely
happened. A recent New York Times reconstruction of that historic vote
and its aftermath finds election denial has instead become a badge of
honor and, for many Republicans, a requirement for advancement within
the party.
These lawmakers have also been rewarded with a surge of money coming in
from GOP grassroots donors in addition to the corporate donations
filling their coffers.
Ben Werschkul is a Washington correspondent for Yahoo Finance.