Large corporations cut off political donations after Capitol siege – Axios

In a shock to Washington Inc., several corporations are restricting or suspending political contributions after the Capitol siege.

Why it matters: The politics of pandering to the mob have become too dangerous for many of America’s business leaders.

What’s happening:

  • JPMorgan Chase is pausing all giving to both parties for six months. “The country is facing unprecedented health, economic and political crises,” said Peter Scher, chair of the Mid-Atlantic Region and head of corporate responsibility. “There will be plenty of time for campaigning later.”
  • Citi’s head of global government affairs, Candi Wolff, said in a letter to colleagues that the bank will pause all contributions in Q1, and that after that, “[W]e will 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 certification of the election.”
  • Blue Cross Blue Shield Association said it will suspend contributions to “lawmakers who voted to undermine our democracy” by challenging Electoral College results.
  • Boston Scientific, the medical device maker, is pausing all federal gifts.
  • Goldman Sachs is freezing donations through its PAC. The company told The New York Times it will conduct “a thorough assessment of how people acted during this period.”
  • Dow, the chemical giant, told Bloomberg it will not donate to lawmakers who voted to object to the certification for one election cycle — two years for those in the House and six years for senators.
  • BlackRock said it will pause all PAC donations, and will meanwhile “conduct a thorough review of the events and evaluate how we will focus our political activity going forward,” according to a company memo obtained by Axios.
  • Airbnb said its PAC will withhold donations to lawmakers “who voted against the certification of the presidential election results.”

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