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CEO of JPMorgan Chase Jamie Dimon speaking at a forum in New York in September 2019. Photo: Tiffany Hagler-Geard/Bloomberg via Getty Images

JPMorgan Chase will restart its political donations but will not give to Republican members of congress who objected to certifying the Electoral College victory of President-elect Biden, according to an internal memo reviewed by Reuters.

Why it matters: 147 congressional Republicans, the majority of whom hold seats in the House, objected to state election results over baseless claims of widespread election fraud fueled by former President Trump.

Context: JPMorgan, the country's largest lender, was among several big businesses that paused their political contributions following the deadly Jan. 6 riot at the U.S. Capitol as Congress voted to certify the election.

  • The bank said it will resume its contributions through its political action committee this month.

The big picture: JPMorgan plans to update its giving strategy by focusing on lawmakers who oversee financial matters that the bank considers "moral and economic imperatives for our country," including addressing the racial wealth gap, education and criminal justice reform, according to Reuters.

  • It did not name any specific candidates in the memo.

The other side: Pulling GOP political donations could inadvertently push Republicans to embrace their party's rightward fringe, according to a 2016 study that examined fundraising data in state legislatures, Axios' Lachlan Markay reports.

Go deeper ... Scoop: States warn banks — Drop coal, and we drop you

Go deeper

Trump endorses Cheney challenger in Wyoming primary

Rep. Liz Cheney in the Capitol Visitor Center after a briefing by administration leaders on the U.S. withdrawal from Afghanistan on August 24, 2021. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Former President Trump on Thursday endorsed Harriet Hageman over Republican Rep. Liz Cheney in the Wyoming House primary contest, per a press release.

Why it matters: The primary will test the former president's hold on the GOP as he seeks to unseat Republican officials who challenged his false claims that he won the 2020 presidential election, Politico notes.

Right-wingers making McCarthy sweat for future Speaker post

House Minority Leader Kevin McCarthy stands with his Republican colleagues outside the House on Nov. 17. Photo: Stefani Reynolds/Bloomberg via Getty Images

Right-wing elements in the Republican Party are complicating House Minority Leader Kevin McCarthy's attempts to become the next speaker of the House should the GOP take back the majority in 2022.

Why it matters: While McCarthy has worked carefully to build trust among the conservatives who tanked his chances at clinching the speakership in 2015, they're still circling ahead of the next Speaker vote in January 2023.

3 hours ago - Politics & Policy

Congress sprints to meet crush of deadlines

Illustration: Aïda Amer/Axios

Congressional leaders have been pushing off vital action for months — and a lot of it will catch up with them in December, which begins Wednesday.

Driving the news: Funding for the federal government is set to expire at midnight on Friday. There are also consequential deadlines related to the debt limit, President Biden's agenda and annual actions like voting on the National Defense Authorization Act.