Corporations Pour Big Money into 2012 Election
By: ABC Digital
(WASHINGTON) — As Americans begin to divide down party lines over their presidential preferences in the 2012 election, so too are many of the country’s largest corporations.
From Google to Marriott and Dreamworks Animation to the United Parcel Service, some of the largest companies in the country are forking over big bucks to support candidates, occasionally leaning heavily to one side of the political aisle.
But while the predictably partisan labor groups are going blue and the often-conservative oil companies are going red, some less overtly political businesses are taking sides as well.
The United Parcel Service, or UPS, has so far doled out $1.2 million in the 2012 election, about 70 percent of which went to Republicans or conservative groups, according to disclosure data compiled by the Center for Responsive Politics. Goldman Sachs, Marriott International and The Home Depot have also disproportionately supported Republicans.
But while the majority of the political contributions UPS and its employees gave supported the GOP, more than $10,000 went to President Obama and a similar amount went to Democratic Sen. Kirsten Gillibrand, D-N.Y., the center’s data shows.
Internet giant Google has, as a whole, come down on the side of Democrats, with about 70 percent of the $1.1 million the company has spent on this election cycle going to Democratic candidates or liberal groups, according to the Center for Responsive Politics.
But Google’s political action committee’s spending is split relatively evenly between Democrats and Republicans in Congress, spending $150,000 on Democrats and $143,000 on Republicans. However, Google employees have overwhelmingly backed Obama, donating close to $140,000 to the president’s re-election campaign through the end of 2011.
Bob Biersack, a senior fellow at the Center for Responsive Politics, said that while a few corporations tend to favor one party over the other, “a large majority of corporations are going to end up somewhere in the middle.”
“Especially big corporations will split their giving across parties because they are worried about getting access,” Biersack added. “In those cases they might be less concerned about what party the member [of Congress] is in and more concerned what committee they’re on.”
But the millions that each of these companies has reported spending on the 2012 election so far may be a mere fraction of the full amount these businesses are pumping into politics this year.
“We don’t know what the corporate money is because we haven’t seen [full] disclosures,” said Bruce Freed, president of the Center for Political Accountability, which is pushing for more reporting requirements on corporate political spending.
While companies have to report their donations to political campaigns, parties and political action committees, they can remain anonymous when donating to trade organizations, like the Chamber of Commerce, and some non-profit advocacy groups, like the Karl Rove-backed Crossroads GPS.
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