Last week’s violence at the US Capitol building has led to many banks and corporations reconsider your approach for political donations. Now some real estate groups are following.
By using collected data conducted by the Center for Responsive Policy, an analysis by The Real Deal found that 10 major real estate-related business groups contributed to the so-called “incitement committee” in the 2020 election cycle – 147 Republican lawmakers objected to the College’s election results in the presidential election.
As previously announced, the National Association of Real Estate Agents was among the Association of Real Estate Agents largest such donors, contributing $ 1.27 million. Counting only donations of $ 10,000 or more, the NAR Political Action Committee donated $ 834,000 to 56 opponents of the electoral school. Nine other real estate groups have donated at least $ 100,000, as the following table shows.
The NAR did not announce any changes in its attitude to political contributions, stating that “decisions regarding our participation in the federal elections in 2022 will be made following the same procedures and taking into account a number of factors affecting our nation and its real estate sector. “
Other groups indicated that they would reconsider their approach.
“As a result of these recent events … the Nareit Political Action Committee, REITPAC, will immediately suspend political contributions to all members of Congress who voted to deny certification of voting votes cast by electoral academies,” said the National Association of Real Estate Investment Funds. in a statement that also condemned the “misleading and misdirected invasion” of the US Capitol by the “violent mob of insurgents”
The National Council for Multi-Family HousingIn the meantime, he said he had suspended all PAC payments, not just those associated with lawmakers who protested the electoral votes. “We will carry out a thorough review of our strategy for the 117th Congress,” the group said in a statement.
The Mortgage Bankers Association took a similar approach. “The MBA has decided to suspend payments from its Political Action Committee, MORPAC, and will conduct a careful review with our member of management of our delivery strategies for the 117th Congress,” it said.
The National Housing Association did not make major changes to its policy of political contributions, but noticed that it was “shocked and very saddened” by last week’s events. “While sound housing policy remains our main reason for support, we will continue to evaluate each contribution on a case-by-case basis,” the group said in a statement.
A spokesman for the National Association of Home Builders said the organisation’s PAC had not yet met to discuss the issue. Four other business groups did not respond to requests for comments.
According to contributions from the nonprofit Center for Responsive Policy, the real estate industry, with a total contribution of $ 16.3 million, was the third largest category of donors to post-retirement and “Republican / Conservative” electoral schools.
However, business group donations to board members need to be seen in the context of their overall donations to candidates across the political spectrum. Six of these groups donated equally to Democratic and Republican candidates, with neither party receiving more than 60 percent of their total donations to federal candidates.
More guerrilla groups include the United Brotherhood of Carpenters and Carpenters, whose contributions were almost the same 80 percent Democratic. The National Association of Home Builders, National Association of Self-Service and American Association for Resort Developmentin the meantime, he contributed mainly to Republican candidates.
Among lawmakers who objected to the election academy’s results, House Minority leader Kevin McCarthy of California was the best recipient of PAC donations in real estate and received funding from nine out of 10 business groups. Missouri’s House Small Business Committee member Blaine Luetkemeyer and Louisiana’s Scale Minority Whip Steve Louis also received more than $ 100,000 from these groups.
McCarthy and Scalise are “members of the Republican leadership who make big money from almost every business PAC,” notes the Center for Responsible Policy. data analysis. McCarthy condemned last week’s violence, saying President Donald Trump “bears the responsibility“It simply came to our notice then. Scalise called the Capitol attack “domestic terrorism,” but also opposed the second indictment.
Meanwhile, Missouri Senator Josh Hawley – the first senator to object to confirmation of the victory of newly elected President Joe Biden – has not received more than $ 10,000 in contributions from any of the above business groups, although he has received $ 1,000 from the NAR. Texas Sen. Ted Cruz received only $ 10,000 from the American Hotel & Lodging Association and $ 1,000 from the NAR.