Corporate Donations Shift Left
Companies in the insurance, pharmaceuticals and tobacco industries are boosting their share of contributions to Democrats this year, an indication that the traditionally Republican-friendly donors suspect Dems may soon end up holding the reins of power.Companies in the insurance, pharmaceuticals and tobacco industries are boosting their share of contributions to Democrats this year, an indication that the traditionally Republican-friendly donors suspect Dems may soon end up holding the reins of power.
Wait, before you go…Wall Street Journal via AOL:
WASHINGTON — Some big companies are boosting their share of campaign contributions to Democrats this year, a sign that executives may be starting to hedge their political bets after a decade of supporting congressional Republicans.
The shift includes backers of the Republican Party in the insurance, pharmaceuticals and tobacco industries, such as American International Group Inc., Wyeth, and Reynolds American Inc., according to PoliticalMoneyLine, a nonpartisan tracker of campaign contributions.
Most companies say they give political donations to candidates who support their businesses, regardless of party affiliation. But corporations also tend to channel funds to politicians they think will hold power. So any shift in corporate campaign giving toward Democrats could signal that businesses believe Democrats will have more sway in Washington after the 2006 midterm elections or the 2008 presidential contest.
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.
Support Truthdig
There are currently no responses to this article.
Be the first to respond.