Friday, October 22, 2010

Top Companies Aid Chamber of Commerce in Policy Fights - NYTimes.com

 image

Prudential Financial sent in a $2 million donation last year as the U.S. Chamber of Commerce kicked off a national advertising campaign to weaken the historic rewrite of the nation’s financial regulations.

Dow Chemical delivered $1.7 million to the chamber last year

Goldman Sachs, Chevron Texaco, and Aegon, a multinational insurance company based in the Netherlands, donated more than $8 million in recent years to a chamber foundation that has been critical of growing federal regulation and spending. These large donations — none of which were publicly disclosed by the chamber, a tax-exempt group that keeps its donors secret

chamber’s increasingly aggressive role — including record spending in the midterm elections that supports Republicans more than 90 percent of the time

annual tax returns that the chamber releases include a list of all donations over $5,000, including 21 in 2008 that each exceed $1 million, one of them for $15 million. However, the chamber omits the donors’ names.

nearly half of its $140 million in contributions in 2008 came from just 45 donors

organization that in 2003 had an overall budget of about $130 million, it is spending $200 million this year, and the chamber and its affiliates allocated $144 million last year just for lobbying, making it the biggest lobbyist in the United States.

Top Companies Aid Chamber of Commerce in Policy Fights - NYTimes.com