Get App
Download App Scanner
Scan to Download
Advertisement
This Article is From Mar 19, 2021

Morgan Stanley PAC Resumes Donations After Three-Week Pause

Morgan Stanley's political action committee resumed giving to lawmakers in February, only weeks after announcing a post-Capitol riot pause, but none of the 147 Republicans who voted against certifying electoral votes for Joe Biden received a dime.

On Jan. 10, the bank joined dozens of other companies in announcing that they would suspend and review their PAC donations. But by Feb. 2, Morgan Stanley's PAC made 46 donations to members of Congress.

Overall, Morgan Stanley donated $134,500 to federal candidates and committees, according to its latest filing with the Federal Election Commission. The bulk of the money went to Democrats, who received $81,500, compared to $53,000 for Republicans. The bank was due to file its report covering February activity to the FEC by Saturday.

Morgan Stanley did not immediately respond to a request for comment.

No donations went to the members of Congress who still voted against certifying the Electoral College votes for Biden, a group deemed by the donors to be on a “no fly list.”

Read More: Wall Street Looks to Quietly Reopen Wallets for Politicians

Among those who did get money from the bank were some of the Republican House members who voted to impeach former President Donald Trump for inciting the armed insurrection with his false claims of widespread election fraud, including Representatives Liz Cheney of Wyoming, Anthony Gonzalez of Ohio, John Katko of New York and Adam Kinzinger of Illinois. All of those donations were earmarked for their primaries.

Trump, whose leadership PAC Save America had $31.2 million cash on hand at the end of 2020, has said he will support primary challengers against those who voted to impeach him in his final weeks in office. Of the 10 House members who did so, only Katko has not yet drawn a Republican challenger.

©2021 Bloomberg L.P.

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.

Newsletters

Update Email
to get newsletters straight to your inbox
⚠️ Add your Email ID to receive Newsletters
Note: You will be signed up automatically after adding email

News for You

Set as Trusted Source
on Google Search