US firms halt political donations after Capitol riot

By Beyza Binnur Donmez

ANKARA (AA) – American businesses, including JPMorgan Chase and Citigroup, have decided to pause donations to political parties, days after supporters of President Donald Trump breached the US Capitol.

JPMorgan, the biggest US bank by assets, said that it is halting donations for both Republicans and Democrats for "at least" the next six months and will use that time to reconsider its donations strategies, CNBC reported on Sunday, quoting company's spokesman Steve O’Halloran.

Citigroup also announced a similar decision by stopping political action committee (PAC) donations to all lawmakers for three months.

"We want you to be assured that we will not support candidates who do not respect the rule of law," Candi Wolff, head of global government affairs, said Friday in a memo to employees.

"We intend to pause our contributions during the quarter as the country goes through the presidential transition and hopefully emerges from these events stronger and more united,” she added.

Meanwhile, some companies like Marriott International and the Blue Cross Blue Shield insurance group only halt donations for Republican lawmakers who backed attempts to block the certification of President-elect Joe Biden’s victory.

"In light of this week’s violent, shocking assault on the United States Capitol, and the votes of some members of Congress to subvert the results of November’s election by challenging Electoral College results, [Blue Cross Blue Shield Association] will suspend contributions to those lawmakers who voted to undermine our democracy," the insurance group said in a statement.

The Bank of America said that "violent assault" on the US Capitol will take effect on donation decisions for the 2022 midterm elections, according to CNBC.

The Federal Election Commission limits the PACs for the 2019-2020 election cycle with up to $5,000 to a candidate per election and $15,000 annually to any national party committee.

On Wednesday, hundreds of pro-Trump protestors stormed the Capitol building, which includes both the House and Senate, in an attempt to block certification of Biden's election win.

The ensuing violence resulted in five deaths and sparked anger among both Democrats and Republicans.