Of the top 10 political donors among S&P 500 CEOs, a majority gave big to GOP groups in the second quarter, according to data from the Center for Responsive Politics.
As Trump and other Republicans slide in the polls, the idea that taxes could go up under a Democratic administration and Congress has forced wealthy GOP donors off the sidelines.U.S. President Donald Trump gestures during a roadside stop in Bedminster, New Jersey, U.S., July 26, 2020.The CEOs of some of the biggest companies in the United States have started ramping up their donations to Republican causes as concern grows about Joe Biden's plan to raise the corporate tax rate.
As Trump and other Republicans slide in the polls, the idea that taxes could go up under a Democratic administration and Congress has forced GOP donors off the sidelines, according to people helping raise money for GOP organizations. Biden has said he wants to raise the corporate tax rate to 28% from 21%.
Dan Eberhart, a longtime prominent Republican donor, told CNBC he senses that wealthy financiers are going to start lining up behind Trump.
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