In shock to Washington Inc., several companies limit or suspend political contributions after the siege of the Capitol.
Why it matters: The politics of giving in to the mob has become too dangerous for many American business leaders.
What is going on:
- JPMorgan Chase pauses 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 social responsibility. “There will be plenty of time to campaign later.”
- Citi’s Candi Wolff, head of global government affairs, said in a letter to colleagues that the bank will pause all contributions in the first quarter and beyond, “[W]e does not support candidates who do not respect the rule of law. “
- Marriott International said the hotel giant will pause donations “to those who voted against the election certification.”
- Blue Cross Blue Shield Association said it will suspend contributions to “lawmakers who voted to undermine our democracy” by challenging the results of the electoral college.
- Boston Scientific, the maker of medical devices pauses all federal donations.
- Goldman Sachs freezes donations through his PAC. The company told The New York Times it will “conduct an in-depth assessment of how people have behaved during this time.”
- Dow, the chemical giant, told Bloomberg it will not donate to lawmakers who voted to oppose certification for one election cycle – two years for those in Parliament and six years for senators.
- Black rock said it will interrupt all PAC donations while “thoroughly reviewing events and evaluating how we will focus our political activities going forward,” said an Axios corporate memorandum.
- Airbnb said its PAC will withhold donations to lawmakers “who voted against presidential election certification.”