September 25 2022 12:23 PM E-paper Subscribe Sign in My Account Sign out

JPMorgan to resume political donations, with exceptions

(Photo: Unsplash)
(Photo: Unsplash)
SAN FRANCISCO, United States — JPMorgan Chase will resume making donations to American politicians — except for those who voted in January against certifying Joe Biden as president. اضافة اعلان

The bank, America’s largest in terms of assets, had suspended donations to politicians of either party following the violent assault on the US Capitol by Donald Trump supporters on January 6.

“This was a unique and historic moment when we believe the country needed our elected officials to put aside strongly held differences and demonstrate unity,” the bank’s political action committee said in a memo sent to employees on Friday and obtained by AFP.

The employee-financed committee added that the “handful of members of Congress to whom we may have given this year who voted against counting the electoral votes that states certified and submitted to Congress” would receive no further donations during the cycle that ends with the November 2022 midterm elections. 

Several other companies and business leaders similarly denounced the Capitol violence and also suspended donations.

More recently, several large and small business groups have opposed planned changes in election law by Texas and other states aimed ostensibly at making elections more secure, while in effesct limiting voters’ options for casting ballots.

The changes would particularly affect minority groups, notably African Americans, and have thus been blasted by Democrats as an attack on their voter base. 

The JPMorgan committee also said it planned to give to a wider range of recipients, favoring politicians who seek to narrow racial, economic, and educational divides and to address other “moral and economic imperatives” that are also “commercially critical for businesses like ours.”

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