Writing for Rolling Stone, the Washington Examiner's David Drucker claims there is a coming collision between the normally corporate-friendly Republican party and major companies after the two sides fell apart following the Jan. 6 insurrection and the GOP refused to part ways with Donald Trump in the aftermath.
As the report notes, Republicans have been weaning themselves off corporate donations as they have moved farther to the right and now, with the GOP preparing to take over the House from the Democrats, the possibility of CEO's being called before GOP-led House committees is likely to come true.
As Drucker wrote, "Many of the PACs run by big business responded by doing some halting of their own, as in, they very publicly announced an end to financial contributions to any of the 147 House Republicans (and seven Senate Republicans) who had voted against certifying electors from various states. Congressional Republicans, insisting then and now they were only doing the bidding of their constituents, were taken aback. Still are taken aback. The result? Simmering hostility toward corporate America poised to rear its head if (when) a new House GOP majority assumes power in January."
The result, he explained, will be evident when hearings commence.
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"Corporate execs should start preparing to be hauled up to Capitol Hill and grilled in committee by Republican chairmen," he wrote. "Tech firms should start looking over their shoulder at the possibility of House Republicans collaborating with the Biden administration on antitrust issues. Corporate America should think about looking elsewhere, wherever that might be, for a new political shield against Democratic and union attempts to further regulate their business practices."
According to GOP lobbyist Sam Geduldig, "A lot of companies are going to find themselves shut out from members who are incoming committee chairs, subcommittee chairs, and leaders. This is a new class of members that has no interest in building these relationships.”
The report adds that two sides had been going through a "messy break-up" but positions hardened after Jan. 6 when Republicans realized they could thrive without corporate backing.
"Many House Republicans discovered they didn’t need corporate America’s cash to get by. Their political operations were able to raise enough, online in small amounts from grassroots donors and from other sources, to take the sting out of the loss of PAC donations, which under federal election law, are limited to $5,000 per candidate per primary, and another $5,000 per candidate per general election campaign," Drucker wrote before suggesting, "This is sapping any motivation to repair relationships with big business and turn the contribution spigot back on for 2024."
You can read more here.