Nov 1, 2018

Corporate America leans GOP in 2018 midterms

Data: Contribution amounts are from the Center for Responsive Politics as of Oct. 26, 2018; the company list is from Fortune 500; and company sectors are from Yahoo Finance and original research. Get the data. Chart: Harry Stevens/Axios

A slim majority of the midterm congressional campaign contributions from America's biggest companies have gone to Republican candidates, an Axios analysis of federal election data shows.

Why it matters: America's wealthy companies are able to influence elections by financially supporting candidates whose positions align with their values — or who they believe can help their businesses. But even more often, they support both sides, ensuring access to whomever ends up in power.

The chart above shows 495 of the 500 largest U.S. companies by revenue. Five were missing from the OpenSecrets database, which Axios used for this analysis.

  • The companies' size is based on the combined contributions from their political action committees and individual employees who gave at least $200.
  • They are grouped from top to bottom according to their economic sector. Sectors that gave a larger share of their contributions to Republicans are on top, while sectors that preferred Democrats are towards the bottom.

By the numbers: Employees and PACs affiliated with Fortune 500 companies have given more than $180 million to congressional candidates in the 2017–2018 campaign cycle.

  • Republican candidates received nearly $93 million, or 52% of the Fortune 500's spending. About $86 million, or 48%, went to Democrats.
  • The energy sector, which includes fossil fuel companies like Exxon Mobil and Chevron, gave more than four-fifths of its $8.5 million in contributions to Republicans.
  • But the technology sector gave about three-quarters of its $17.7 million to Democrats. The largest overall contributor, Google's parent Alphabet, gave about 86% of its $4.7 million to Democrats.

The bottom line: “Certain industries lean right or left, but major corporations generally hedge their bets—favoring the party in power, but delivering hefty sums to both sides—and on that score, 2018 is no different,” said Sheila Krumholz, executive director of the Center for Responsive Politics, the watchdog group that maintains OpenSecrets.

Go deeper:

Go deeper

O'Brien rejects intelligence report of Russia effort to re-elect Trump

National Security Adviser Robert O'Brien. Photo: Chris Usher/CBS via Getty Images

White House national security adviser Robert O'Brien repeatedly rejected on ABC's "This Week" an assessment from a congressional briefing led by the Office of the Director of National Intelligence that Russia is interfering in the 2020 election to help President Trump get re-elected.

Why it matters: The report put the Trump administration under fresh scrutiny in regard to steps it has been taking to combat the kind of interference that the U.S. encountered in 2016.

Go deeperArrowUpdated 27 mins ago - Politics & Policy

Italy becomes site of largest coronavirus outbreak outside of Asia

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus has spread to more nations as South Korea and Italy step up emergency measures in their countries amid rising case numbers on Sunday.

The big picture: COVID-19 has killed at least 2,462 people and infected almost 79,000 others, mostly in mainland China. South Korea increased the infectious disease alert to red, the highest possible, as its case numbers jumped to 602 and the death toll to five. Italy's government announced emergency measures as it confirmed a spike from three to 132 cases in matter of days, making it the largest outbreak outside of Asia.

Go deeperArrowUpdated 2 hours ago - Health

Iranian state TV: Hardliners win landslide victory in low-turnout election

Photo: Iranian Supreme Leader Press Office/Handout/Anadolu Agency via Getty Images

Iranian state TV announced Sunday that hardliners won a landslide victory in the country's parliamentary elections two days ago, including all 30 seats in Tehran, AP reports.

Why it matters: Voter turnout in the election only reached 42.57%, according to Iran's interior ministry, the first time turnout dipped below 50% since the 1979 Islamic Revolution. The low turnout may signal dissatisfaction with the Iranian government and the election system.

Go deeperArrow2 hours ago - World