Vice President Kamala Harris' presidential campaign is facing scrutiny over its pledge to refuse corporate PAC contributions while accepting donations from numerous corporate executives.
According to a report by The Daily Caller, Harris' campaign has received substantial financial support from high-ranking business leaders despite her claims of distancing herself from corporate influence.
The investigation reveals that in the ten days following Harris' official takeover of President Joe Biden's reelection campaign on July 21, dozens of corporate executives contributed tens of thousands of dollars to her campaign. This influx of donations from business leaders comes despite Harris' campaign website explicitly stating that it "does not accept contributions from corporations or their PACs."
Executives from a wide range of industries, including banking, media, retail, pharmaceuticals, and technology, have made significant contributions to Harris' campaign. Federal Election Commission (FEC) records show that leaders from major companies such as Amazon, Salesforce, Vox Media, Citigroup, and Uber made the maximum allowable donations within the first ten days of Harris' campaign launch.
Notable tech industry figures were among the early supporters of Harris' presidential bid. LinkedIn co-founder Reid Hoffman and Netflix co-founder Reed Hastings were reportedly among the first prominent tech leaders to financially back the vice president's campaign.
Some of Harris' corporate donors are allegedly attempting to influence her stance on regulatory matters. Reports suggest that certain deep-pocketed supporters are pushing for the removal of Federal Trade Commission (FTC) Chair Lina Khan, known for her aggressive pursuit of antitrust cases against major tech companies.
This is not the first time Harris has faced questions about her stance on corporate donations. During her 2020 presidential campaign, she made a similar pledge to reject corporate PAC contributions.
However, reports later emerged that her campaign had accepted donations from corporate PACs, raising concerns about the consistency of her position.
Harris has previously explained her rationale for rejecting corporate PAC money. In a 2018 interview, she stated:
I think that money has had such an outside influence on politics, and especially with the Supreme Court determining Citizens United, which basically means that big corporations can spend unlimited amounts of money influencing our campaigns, right? We're all supposed to have an equal vote, but money has now really tipped the balance between an individual having equal power in an election to a corporation. So I've actually made a decision since I had that conversation that I'm not going to accept corporate PAC checks. I just, I'm not.
Despite this stance, FEC records show that Harris' 2024 campaign has accepted donations from executives at numerous major corporations, including Amazon, Apple, CBS, Chevron, NBC, Comcast, CVS, Disney, Deloitte, ESPN, General Motors, Pfizer, Intel, Verizon, and Sony.
A group of 88 current and former top executives recently expressed their support for Harris in a letter shared with CNBC. The letter stated:
We endorse Kamala Harris's election as President of the United States. Her election is the best way to support the continued strength, security, and reliability of our democracy and economy. With Kamala Harris in the White House, the business community can be confident that it will have a President who wants American industries to thrive.
Signatories of this letter included former executives from prominent companies such as American Express, Bank of America, Sony Entertainment, Ford, Fox, PepsiCo, and Zillow. Notably, current executives from these companies have also made donations to Harris' campaign in its initial days.
Vice President Harris' campaign is facing questions about its stance on corporate influence in politics. While officially rejecting corporate PAC money, the campaign has accepted significant donations from corporate executives across various industries. This apparent contradiction has raised concerns about the alignment between Harris' stated principles and her campaign's fundraising practices. The support from business leaders suggests confidence in Harris among corporate America despite her public stance against corporate political influence.
