Fortune 200 Corporations’ Execs And PACs Donate $5.6 Million To McCain, Spend Nearly $100 Million On McCain’s Lobbyists
Washington, D.C. – A report released by Campaign Money Watch, a campaign finance watchdog group, found that the top 200 corporations in America are well represented among Sen. John McCain’s (R-AZ) campaign contributors and the lobbyists working to get him elected. The report’s release comes as the Center for American Progress Action Fund unveiled its analysis that McCain’s tax plan would save the same 200 corporations $45 billion.
“Apparently, one of the best investments corporate America could make right now is to make a campaign contribution to John McCain, or to hire one of the many lobbyists working for his campaign,” commented David Donnelly, director of Campaign Money Watch. “But regular Americans can’t afford to hire a lobbyist like Charlie Black or Rick Davis, or to make a $2,300 contribution. Perhaps that’s why McCain’s tax plan is so skewed to help corporate America.”
Campaign Money Watch’s analysis of data obtained from the nonpartisan Center for Responsive Politics (http://www.opensecrets.org) found that:
- McCain has received $5,590,003 from the employees and Political Action Committees (PACs) of the Fortune 200 since 1989. These same 200 companies have paid $98,693,835 to lobbyists connected to the McCain campaign since 1998.
- McCain has raised $1,076,579 from the top ten companies on the Fortune 200 since 1989. Those same ten companies have paid $17,961,900 to lobbying firms represented on McCain’s staff and fundraiser roster since 1998.
- McCain has already received three times as much in campaign contributions in this election from the Fortune 200 than he did in his 2000 race for the White House. In 2000 he raised $1,113,526 and so far in 2008 he has raised $3,026,122.
A full spreadsheet with figures for total donations from every corporation’s executives and PAC, and the corporation’s lobbyists and lobbying expenditures, is available online.
Campaign Money Watch also released a comprehensive report on John McCain's connections to lobbyists early this month, finding that lobbyists helping his campaign made nearly half a billion dollars in lobbying fees over the past ten years. The report, entitled "Embedded or In Bed?" can be read online.
Campaign Money Watch is a project of the nonpartisan Public Campaign Action Fund. The organization works to hold politicians who are against reform accountable for where they get their political donations.