Big Business Donations Shift to Democrats
It would appear that corporate America is hedging its bets, suddenly giving massive amounts of money to the Democrats.
Corporate America is already thinking beyond Election Day, increasing its share of last-minute donations to Democratic candidates and quietly devising strategies for how to work with Democrats if they win control of Congress. The shift in political giving, for the first 18 days of October, has not been this pronounced in the final stages of a campaign since 1994, when Republicans swept control of the House for the first time in four decades.
Though Democratic control of either chamber of Congress is far from certain, the prospect of a power shift is leading interest groups to begin rethinking well-established relationships, with business lobbyists going as far as finding potential Democratic allies in the freshman class — even if they are still trying to defeat them on the campaign trail — and preparing to extend an olive branch the morning after the election.
Certainly, this isn’t a function of corporations suddenly deciding that Democratic policy positions are in their best interests. This is influence peddling at its finest, with companies desperately seeking to ensure they will retain access to the halls of Congress if there is indeed a turnover in power.
This may be a better indicator than political “markets” like TradeSports, since these are some of the heaviest hitters.