![]() McCarthy said in an interview last year that he didn't want the Chamber's endorsement because "they have sold out." Senate Minority Leader Mitch McConnell also took aim at the Chamber last year. That move has infuriated Republican leaders. It supported improving the nation's infrastructure and vehemently pushed back on Trump's tariffs. The Chamber has long advocated against raising corporate taxes. The Chamber endorsed nearly two dozen House Democrats last year. ![]() The business advocacy group said it would "evaluate our support for candidates – Republicans and Democrats – based on their position on issues important to the Chamber, as well as their demonstrated commitment to governing and rebuilding our democratic institutions." The Chamber of Commerce said in a March memo it would not continue its ban on contributions to lawmakers who challenged the election results. McCarthy was one of over 135 House Republicans who objected to the Electoral College results, which showed that Joe Biden had defeated Donald Trump in the presidential election. ![]() Several companies froze donations after the attack.Ĭharles Schwab's PAC contributed over $470,000 to a mix of Republican and Democratic lawmakers during the 2020 election, including a donation to House Minority Leader Kevin McCarthy, R-Calif., according to Federal Election Commission records and data from the nonpartisan Center for Responsive Politics. News of Charles Schwab's decision to leave the Chamber comes during a reckoning for major corporations as they reevaluate political contributions following the pro-Trump insurrection at the Capitol that led to the deaths of five people, including a police officer. We have the overwhelming support of our members and enjoy more than 95% retention rate consistently, because our members know what we stand for – harnessing the power of business to improve society and people's lives," the group told CNBC. "First, The Chamber doesn't comment on its members. Headquartered in Washington, it boasts of a high retention rate among its members. Chamber of Commerce is the country's biggest business lobbying group. As you will have seen from our recent decision to discontinue our PAC, we have been reconsidering how we engage with policymakers," the company said.Ĭharles Schwab did not disclose when it left the Chamber. ![]() "Our decision to terminate our membership with the Chamber is unrelated to their political activities. The firm, whose millions of clients have trillions of dollars in assets, hinted that the move was linked to its own decision to shut down its PAC. Personal Loans for 670 Credit Score or LowerĬharles Schwab said its move did not have anything to do with the Chamber's recent political actions. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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