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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 Photographs
The biggest enterprise lobbying group on the earth noticed its fundraising surge final yr regardless of criticism from normally 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 yr, in keeping 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 revamped $7 million in 2020, his closing yr as a head of the group, the doc reveals. That quantity included bonuses and incentives price simply over $5.9 million.
Donohue reportedly revamped $6 million a yr earlier. Suzanne Clark, who grew to become CEO earlier this yr, revamped $4 million because the group’s president in 2020, together with over $3 million in bonuses and incentives.
The group spent in extra of $80 million on lobbying final yr alone, in keeping with knowledge from the nonpartisan Heart for Responsive Politics. Their web belongings on the finish of the yr 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 usually backed insurance policies that align with Republicans’ or extra conservative Democratic lawmakers’, resembling not elevating taxes and eliminating commerce tariffs.
The group endorsed the $1 trillion bipartisan infrastructure invoice that Biden signed final month however continues to oppose the over $1 trillion social spending package deal, which has but to make its method out of Congress.
Republican leaders hammered the Chamber in 2020 for endorsing a bunch 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 yr.
“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 might be a part of this socialist agenda that’s driving this nation out, and it is combating 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 in all probability do not make a lot distinction,” McConnell stated.
Since then, the chamber has seen a couple of senior leaders go away the group. The company large Charles Schwab left the Chamber of Commerce following its resolution 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 in opposition to using tariffs on CNBC, Trump known as into the community to provide his counterpoints and rip the group’s stance on commerce.
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