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Companies Pause Their PAC Donations as They Fight Democracy Reforms

Companies Pause Their PAC Donations Even as They Fight Democracy Reforms
Senators Ted Cruz and Josh Hawley attend the Senate Judiciary Committee markup on judicial nominations and the Online Content Policy Modernization Act in the Dirksen Building on December 10, 2020.
Tom Williams / CQ-Roll Call, Inc via Getty Images
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After pro-Trump protestors assaulted the Capitol Building on January 6, politically-active corporations responded quickly by announcing changes to their PAC contributions. In the period of a week, dozens of major companies pledged to suspend all political donations or to stop donating to members of Congress who objected to the Electoral College count. ....

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Charles Schwab will pause PAC political donations through 2021

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Charles Schwab said in a statement that its political action committee (PAC) would halt contributions to all lawmakers for the rest of this year.
The wealth manager and brokerage founded by Charles R. Schwab, who serves as the firm s chairman and is a major Republican donor, cited the extraordinary circumstances related to this election cycle.
As a policy, the firm s PAC divides contributions evenly between Democrats and Republicans.
Data from Open Secrets at the Center for Responsive Politics also shows that 67%, or about $923,000, of personal congressional contributions made for the 2020 election cycle by any individual donor whose employer the FEC lists as Charles Schwab went to Republicans. ....

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