WSJ reports corporate contributions are shifting leftMost companies say they give political donations to candidates who support their businesses, regardless of party affiliation. But corporations also tend to channel funds to politicians they think will hold power. So any shift in corporate campaign giving toward Democrats could signal that businesses believe Democrats will have more sway in Washington after the 2006 midterm elections or the 2008 presidential contest.
"The reality is beginning to set in here," says Greg Casey, the head of the Business-Industry Political Action Committee, an organization of businesses dedicated to electing pro-industry candidates. Even if Republicans maintain control of Congress after the November election, their majorities in both chambers are expected to shrink. "What you couldn't get done in 2006 will be much more difficult in 2007," Mr. Casey says.
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The change among some companies and trade groups is helping Democrats gain a more even footing with Republicans in the race for cash. The Democratic Senatorial Campaign Committee has, so far in this election cycle, raised more than its Republican counterpart for the first time since Democrats lost control of Congress in the 1994 election. In the House, Republicans have raised more money than the Democratic campaign arm, but the gap is narrower than in previous campaigns. "Democrats are realizing the importance of working closely with business leaders," says Sen. Charles Schumer of New York, the top fund-raiser for Senate Democrats.
You'll notice in the article that many of these companies still aren't giving a majority to Democrats, but they are giving a larger proportion to Dems across the board.
This also signals bad news for Democrats though. It's this money that has contaminated the political process in the first place and is also responsible for the incompetence of Republicans in addressing problems that affect the American people. If the money does just follow whoever is in power (or favored to be) then all we get is a "meet the new boss, same as the old boss" effect.
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