Corporate Tax

US $ 6 million flows via loopholes in pledge in opposition to corporate PACs

Rep. Josh Harder, a Democrat from California’s 10th district in the Central Valley, has made his opposition to corporate PACs a major issue. He supported a bill banning such political action committees, and his appeals to donors draw on these views.

But Harder’s campaign account still contains other PAC and committee money – nearly $ 200,000 of the $ 2 million he’s raised so far this year – from unions and ideological groups, as well as from his fellow legislature, the PAC- Accept corporate donations, such as House Majority Leader Steny H. Hoyer of Maryland. Harder has also received money from his peers’ PACs and funding from business organizations and trade associations, including the Crop Insurance Professionals Association, according to federal electoral commission records.

He’s not the only one. A CQ appeal review of fundraising disclosures in the first six months of this year found that most of the 62 members of Congress who say they renounce donations from individual company PACs received donations from their peers’ campaign accounts or from executive PACs to have. many of them are full of corporate PAC donations.

Many also report contributions from PACs from business and professional associations like the American Bankers Association and the American Medical Association, which technically don’t break the promise because they’re not tied to a single company. For example, it would violate the promise to accept a donation from Allstates PAC, but not if you, like members who make the pledge, are from the American Property Casualty Insurance Association PAC, the American Council of Life Insurers PAC, or the Council of. take insurance brokers and brokers PAC.

Other PACS contributing to the incumbents that say they have forbidden corporate funds are those of the National Beer Wholesalers Association, American Crystal Sugar Co., Mortgage Bankers Association, National Association of Realtors, American Association for Justice and the American Society of Anesthesiologists. All of these groups represent business and professional interests that seek to influence lawmakers and officials in Washington, DC

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