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Entries in MMidterm Elections (1)

Friday
Oct222010

Chamber of Commerce Relies on Big Donations to Help Sway Midterm Elections

Photo Courtesy - Getty Images(NEW YORK) -- New numbers may show the kind of mega-bucks being used to win elections and shape policy.  The U.S. Chamber of Commerce, which has become one of the most well-financed critics of the Obama administration, has received major donations from top companies in an effort to become a key player in this fall’s congressional elections, reported The New York Times.

The chamber’s money raising efforts last year included a $2 million donation from Prudential Financial as part of an advertising campaign to rewrite financial regulations, according to The Times

Other donations last year included Dow Chemical's $1.7 million contribution to fight tighter security requirements on chemical facilities while Goldman Sachs, Chevron Texaco and Aegon donations totaled at more than $8 million in recent years.

The numbers show the chamber’s increased reliance on big corporate donors to finance much of its legislative and political agenda.  Spending by the chamber in the midterm elections supports Republicans more than 90 percent of the time, according to The Times.

As a non-profit organization, the Chamber of Commerce is not required to disclose its donors.  The contributions, however, could be pieced together in part through public records and tax filings of corporate foundations.

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