Thursday, January 21, 2021

We'll see, about "suspended" corporate political donations

You know plenty are thinking this will all probably blow over by 2022, certainly by 2024, and it will be back to shoveling the cash to whoever will follow orders.
The companies withdrawals also mean less in an era when corporate political giving represents a shrinking share of overall political spending: the Center for Responsive Politics estimates that only about 5 percent of money donated in the 2020 election came from corporate PACs, an “all-time low.”

Kelleher says the corporations’ announcements seem more like “a PR stunt” than a consequential stand. The first quarter after a presidential election is typically when corporate political giving is already the lowest, he notes, so it’s unclear just how much money the targeted lawmakers will actually lose. Many of the companies have been unclear about how long their suspensions will last.

And since Kelleher says large companies typically plan their political giving a year or even two in advance, the cut-off lawmakers may not have actually been in the companies’ plans. “They know going into 2021 how much they have estimated they’re going to give, to who, and when. So let them disclose that information, and tell the public exactly which contributions they’re no longer going to make,” Kelleher says. “Until and unless they do that everybody should be deeply skeptical of the genuineness of what is so far a PR campaign.” - Mother Jones

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