Big Business Turns Blue

Companies fill Dems' war chests, seeking traction with ruling party
By Peter Fearon,  Newser Staff
Posted Apr 30, 2007 7:26 AM CDT
Whip Steny Hoyer   (Associated Press)
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(Newser) – Corporate America is shifting campaign contributions from GOP soulmates to Democrats, eager to bond with new legislative gatekeepers. Coffers aren't swelling across the board, though; a Wall Street Journal analysis shows pro-business Dems are pulling in most of it. General Dynamics, Honeywell International, Home Depot. and Aflac are among those funneling funds to moderates.

Top party leaders are big winners: House Speaker Nancy Pelosi, Majority Whip Steny Hoyer and their main lieutenants pulled in $2.24 million in the first quarter of 2007—three times as much as in the first quarter of 2005. And Charlie Rangel, chairman of the House Ways and Means Committee, saw contributions increase tenfold, from $57,000 to $761,000.