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U.S. Chamber of Commerce fundraising surged to over $215 million in 2020 regardless of GOP leaders’ criticism

The U.S. Chamber of Commerce seal is displayed throughout restoration on the headquarters in Washington, D.C., U.S., on Tuesday, March 17, 2020.

Andrew Harrer | Bloomberg | Getty Photos

The biggest enterprise lobbying group on this planet noticed its fundraising surge final 12 months regardless of criticism from often sympathetic Republican leaders.

The U.S. Chamber of Commerce raised simply over $215 million in 2020, a rise of about $60 million from the earlier 12 months, in accordance with a brand new 990 tax type reviewed by CNBC. The group is formally a 501(c)(6) nonprofit and doesn’t publicly disclose the names of their donors.

Chamber executives additionally noticed a windfall, together with then-CEO Tom Donohue, who remodeled $7 million in 2020, his remaining 12 months as a head of the group, the doc exhibits. That quantity included bonuses and incentives value simply over $5.9 million.

Donohue reportedly remodeled $6 million a 12 months earlier. Suzanne Clark, who turned CEO earlier this 12 months, remodeled $four million because the group’s president in 2020, together with over $three million in bonuses and incentives.

The group spent in extra of $80 million on lobbying final 12 months alone, in accordance with knowledge from the nonpartisan Middle for Responsive Politics. Their internet property on the finish of the 12 months was over $30 million.

A spokesman for the Chamber of Commerce referred CNBC to the 990 submitting when requested follow-up questions

The Chamber advocates for pro-business insurance policies. It had a separate political motion committee that contributed to each Democrats and Republicans. The Chamber of Commerce has typically backed insurance policies that align with Republicans’ or extra conservative Democratic lawmakers’, akin to not elevating taxes and eliminating commerce tariffs.

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The group endorsed the $1 trillion bipartisan infrastructure invoice that Biden signed final month however continues to oppose the over $1 trillion social spending bundle, which has but to make its approach out of Congress.

Republican leaders hammered the Chamber in 2020 for endorsing a gaggle of Home Democrats within the buildup to the final election.

Home Minority Chief Kevin McCarthy, R-Calif., blasted the group in an interview with Fox Enterprise final 12 months.

“I do not need the U.S. Chamber’s endorsement as a result of they’ve bought out,” McCarthy stated on the time. “It’s hypocrisy that the U.S. Chamber of Commerce would endorse the Democrats which can be a part of this socialist agenda that’s driving this nation out, and it is preventing this president.”

Sen. Mitch McConnell, R-Ky., who on the time was the Senate majority chief, took a swipe on the group across the similar time.

“Actually at this level, I feel they’re so confused about what they’re about that they most likely do not make a lot distinction,” McConnell stated.

Since then, the chamber has seen just a few senior leaders depart the group. The company large Charles Schwab left the Chamber of Commerce following its determination to shut its political motion committee within the aftermath of the lethal riot on Capitol Hill on Jan. 6.

Donohue blasted former President Donald Trump’s function within the buildup to the riot.

“The president’s conduct final week was completely unacceptable and utterly inexcusable. By his phrases and actions, he has undermined our democratic establishments and beliefs,” Donohue stated in January.

Trump and the Chamber had butted heads earlier than, particularly over the then-president’s tariffs. In 2019, after a Chamber official spoke out towards using tariffs on CNBC, Trump known as into the community to offer his counterpoints and rip the group’s stance on commerce.

This text was initially printed by cnbc.com. Learn the unique article right here.

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