The US presidential election is fast approaching – and it is unique in many new ways: with votes cast during a pandemic, largely through a contested postal system, and a president who has repeatedly refused to commit to a peaceful transition of power.
For powerful American sectors the outcome of this election is critical. Yet companies cannot directly fund political campaigns – although internal employee-led political action committees (PAC) can. Individual donations also reflect how a company leans – indeed, their aggregate donations can be heftier than those scraped together by committees*
Below, we break down four sectors whose playersare most active in political donations: banks and financial services; pharmaceuticals; oil and gas; and technology. Looking beyond the issue of corporate tax rates, which are likely to be more severe under a Biden presidency, US companies still have more to lose – or gain – depending on whether the horse they back makes it to the Oval Office.