(Bloomberg) -- Dow Inc. is halting campaign contributions by its political action committees to members of Congress who voted to object to the certification of the U.S. presidential election.
The suspension will remain in place for one election cycle, meaning it will last two years for lawmakers in the House of Representatives and six years for senators, the chemical maker said in an email Monday. The ban includes contributions to candidates' re-election committees and affiliated PACs, Dow said.
“Dow is committed to the principles of democracy and the peaceful transfer of power,” the Midland, Michigan-based company. “Our values -- integrity, respect for people, and protecting our planet -- are the foundation on which we stand and our values guide our political contributions.”
The decision goes a step beyond actions taken by banking giants such as Goldman Sachs Group Inc., Citigroup Inc. and JPMorgan Chase & Co., which said they planned to pause political contributions in the aftermath of riots at the Capitol in the past week. Marriott International Inc. said it would suspend donations to Republican senators who voted against certifying President-elect Joe Biden, following the “destructive events” on Jan. 6.
Dow's move was reported earlier by the website Popular Information.
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