House Minority Leader Kevin McCarthy (R-CA) told corporations Monday that promising “bandwagon” support in the 2022 midterms will not remove the Republican Party’s memory of corporate participation in cheap labor and “runaway” inflation.
Corporations are warming to the GOP after Republicans defeated the Democrats on Election Day across the nation. But McCarthy tweeted corporations will be “sorely mistaken” if corporations think the workers’ party will forget the part woke corporations have played in enabling President Biden’s inflation while suppressing wages for the American worker.
“If Corporate America thinks jumping on the bandwagon after Tuesday’s election and before the impending red wave will make conservatives forget the role they played in subjecting the U.S. to open borders and runaway inflation, they are sorely mistaken,” he said in response to the fickle corporations.
If Corporate America thinks jumping on the bandwagon after Tuesday's election and before the impending red wave will make conservatives forget the role they played in subjecting the U.S. to open borders and runaway inflation, they are sorely mistaken.https://t.co/AbnKC8tOeE
— Kevin McCarthy (@GOPLeader) November 8, 2021
Corporate donations from PACs are a powerful force in Washington, DC. Many House Republicans rely on them for campaign funds every two years. Yet as the Republican Party has been reshaped by Donald Trump away from the elitist donor class and into a workers’ party, corporate America has seemingly attached itself to the Democrats.
Fewer than ten years ago, for instance, Sen. Mitt Romney (R-UT), former and failed presidential nominee for the Republican Party, who is a retired private equity executive and advocate for big business tax cuts, seemed to define the GOP. In 2021, however, Romney’s side of the party has been reduced to defending billionaires and wealthy corporations’ tax breaks while turning a blind eye to far-left wokeism among big tech, sports franchises, and consumer goods and services.
With Republicans in good shape to reclaim the House and the Senate, far-left corporations are beginning to rethink their relationship with the GOP.
Brian Ballard, a powerful GOP lobbyist with close association to the Trump administration, told Politico corporations are ready to jump on the GOP bandwagon. “After talking to several clients today, they’ll be a lot more aggressively Republican giving” leading to the 2022 midterms, Ballard said. “It’s much more bullish for Republicans than it was perhaps six months ago.”
Another GOP lobbyist, David Tamasi, who also has ties to the Trump administration, told Politico the tide has changed from earlier in the year and that corporations are ready to support Republican candidates.
“Where we are today from where we were six to eight months ago is a fundamentally different political environment,” said Tamasi. “I think people are realizing that you know it’s likely that the House is gonna flip, and that you’re gonna have to engage with some of the folks that are going to have greater political profiles than they did previously.”
If corporate money does flow back in the direction of the GOP, corporations are likely to expect favorable policies that will facilitate cheap labor via open borders and widely available visas. Such measures allow corporations to hire foreign labor instead of American workers, which keeps their margins greater and most of all, stock prices above expectations.
Follow Wendell Husebø on Twitter @WendellHusebø
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