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Illustration: Annelise Capossela/Axios

Top CEOs plan to get dramatically tougher on state legislators over proposed new restrictions on voting.

Driving the news: After a weekend Zoom summit, the CEOs are threatening to withhold campaign contributions — and to punish states by yanking investments in factories, stadiums and other lucrative projects.

The call included a long list of business luminaries, including James Murdoch, Ken Chenault, Ken Frazier, LinkedIn co-founder Reid Hoffman, Levi Strauss CEO Chip Bergh, Atlanta Falcons owner Arthur Blank, and executives of Delta, United and American Airlines.

Why it matters: After a slow response to Georgia's new limits, corporate America is suddenly makes voting access a foremost issue — and is going beyond words with sweeping economic threats.

Saturday's historic Zoom summit was organized by Professor Jeffrey Sonnenfeld of Yale School of Management, who told me the execs "fortified each other": "There was no sense of fear."

  • The call included 90 business leaders, plus 30 other experts and aides.

A post-summit statement said: "CEOs who participated in a live poll indicated they will re-evaluate donations to candidates supporting bills that restrict voting rights and many would reconsider investments in states which act upon such proposals."

Go deeper: CEOs are the new lawmakers

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Go deeper

100+ corporate executives consider freezing donations over laws curbing voting access

Illustration: Annelise Capossela/Axios

More than 100 corporate executives and leaders gathered on a Zoom call Saturday to discuss ways to combat controversial voting bills being considered in states across the country that would restrict voting access, per the Washington Post.

Why it matters: American corporations flexed their advocacy muscles earlier this month when more than 100 companies signaled their opposition to Georgia's new voting law, inciting the wrath of GOP leaders, including former President Donald Trump and Senate Minority Leader Mitch McConnell.

In photos: Long lines and fuel shortages amid Colonial Pipeline shutdown

A sign warns consumers on the avaliability of gasoline at a RaceTrac gas station in Smyrna, Georgia, on May 11. The average national price of gasoline has risen to $2.985 a gallon, Bloomberg notes. Photo: Elijah Nouvelage/AFP via Getty Images

Reports of fuel shortages across the U.S. emerged on Tuesday as the national average for gasoline prices soared to its highest level since 2014 amid a key fuel pipeline shut down, per Bloomberg.

What's happening: Operator Colonial Pipeline aims to have service restored by the week's end following last Friday's ransomware attack that shut down some 5,500 miles of pipeline from Texas to New Jersey. Florida Gov. Ron DeSantis (R) declared a state of emergency after panic-buying created a fuel shortage.

Reports: More than 100 Republicans threaten to form 3rd party over Trump

Former President Trump addressing the Conservative Political Action Conference in Orlando, Florida, in February. Photo: Joe Raedle/Getty Images

More than 100 Republicans will sign a letter Thursday threatening to create a third party if the GOP doesn't "break" with former President Trump, Reuters first reported.

Why it matters: Per Axios' Mike Allen and Jim VandeHei, Trump's grip on the GOP has gotten stronger since the Jan. 6 Capitol riot. The Republican Party's "allegiance to Trump" as he continues to make false claims about his 2020 election loss has "dismayed" the group, according to Reuters.