Large corporations typically donate to both political parties to maintain good standing with top policymakers.
DALLAS — This article was originally published by a Dallas Business Journal content partner. You can read the original article here.
AT&T and Toyota are among the donors to President-elect Donald Trump’s inauguration and are expected to break fundraising records.
This is according to The Wall Street Journal, which published a report on political donations to highlight corporate donations after the paper saw a widespread slowdown in political donations in the wake of the Jan. 6, 2021, riot at the U.S. Capitol. The study is said to be based on an analysis of the disclosure of donations.
Toyota, with its North American headquarters in Plano, reportedly donated $1 million to the inauguration, while Dallas-based AT&T is among the largest donors, along with companies such as Goldman Sachs and Bank of America. is said to be a person.
In a sense, this is a return to form. Large corporations typically donate to both political parties to maintain good standing with policymakers. Both AT&T and Toyota made similar statements in statements to the Dallas Business Journal. AT&T is:
“AT&T is committed to the 2025 Inauguration, just as we have been to every Inauguration for more than 30 years, regardless of who wins the White House. We are investing and preparing our network extensively for the event. All such contributions will be made public.”
And Toyota said:
“Inauguration ceremonies for new presidents are a time-honored American tradition. Like many other companies, Toyota Motor North America holds a ceremony to reflect the company’s deep and growing presence in the United States. We are happy to support the inauguration.”
The Wall Street Journal’s analysis highlighted the fact that many companies have suspended donations or changed their approach to political giving in the wake of the chaos at the Capitol. In that sense, this donation can be seen as a sign of hope for a return to the original state of American business and a more harmonious relationship between the second Trump administration and large corporations.
The organization organizing January’s inauguration is hoping to raise more than the $107 million raised at President Trump’s previous inauguration, according to the Journal. The newspaper identified 13 companies that donated more than $1 million, which is on pace to outpace the 18 companies that donated more than $1 million to the inaugural fund in 2017.
