REPORT: 2020 vs 2022 Election Cycle Comparison Shows Corporate Donations to Election Objectors Down Just 9.9%
258 Fortune 500 Companies and Industry Groups Actually Increased Donations to the ‘Sedition Caucus’
WASHINGTON, DC — A new analysis of political contributions from the 2020 and 2022 election cycles found Fortune 500 companies and over 700 trade associations decreased their overall contributions to election objectors in Congress by just 9.9% — or $3,730,989 — in the 2022 cycle. The review from government watchdog Accountable.US found that despite the overall decrease in donations, at least 258 companies and trade associations actually increased the amount they contributed to those lawmakers from 2020 to 2022. This includes Home Depot, which said it was “pausing to take time to carefully review and reevaluate,” but still gave $450,000 to the lawmakers better known as the ‘Sedition Caucus’ that voted to negate the results of the 2020 election following the violent coup attempt on January 6th — $45,500 more in 2022 than in 2020.
The biggest corporations have failed to stand up for democracy since January 6th in a significant way. Too many companies have tried to have it both ways: win recognition from consumers and shareholders for condemning the violent assault on our democracy, but stay in the good graces of politicians that tried to finish what the insurrectionists started.
At the end of the day, election objectors in Congress have felt little more than a slap on the wrist from corporations that claim to have a problem with anti-democratic behavior. Some election deniers may have even been emboldened when they were rewarded with bigger checks than before from numerous companies. When they thought no one was paying attention, many CEOs prioritized political influence over a healthy democracy.”
Jeremy Funk, spokesperson for Accountable.US.
Additionally, Accountable.US found that almost half of the decrease in donations between the 2020 and 2022 cycles can be accounted for by companies and trade groups who did not donate to election objectors at all during the 2022 cycle. And 80% of corporate interests that merely temporarily paused donations only account for a $2 million reduction in donations to objectors. This amounts to just barely more than the $1.7 million of contributions reduced by the 20% of companies and trade groups that took an actual stand against attempts to overturn the 2020 election and withheld donations from the election objectors during the 2022 election cycle.
The report also found that the companies that chose to temporarily pause donations as a result of public pressure only accounted for a $2 million reduction in donations to objectors. Once payments resumed, the top-5 donors — AT&T, Boeing, Lockheed Martin, Home Depot and UPS — cumulatively contributed $2,236,900.
Accountable.US’ Corporate Donations Tracker was used to compile this data, which we originally launched in August 2021.