GOP Leaders Got Millions from Major Contributors
The new leaders of the Republican Party managed to accumulate millions of dollar from banks, major corporations, and health insurers. Majority of the donations went to Republican chairmen who head energy, banking, and other key committees. They play a key role in setting the House agenda for the next two years.
The Republicans took the first step by voting for the repeal of President Obama’s health care reform law. Major health care companies and their employee contributed at least $5 million to key Republican leaders. This includes a donation of at least $2 million to House Speaker John Boehner of Ohio and Majority Leader Eric Cantor of Virginia.
Representative Cantor is said to have received around $5.6 million in donation from various corporations during the 2010 elections, with $2.4 of which come from companies belonging in the insurance, finance, and real estate sectors.
Representative Spencer Bachus of Alabama, financial services panel’s chairman, received at least $1.2 million from the banking industry. Representative Fred Upton of Michigan, Energy and Commerce Committee chairman, got at least $400,000 from the mining and energy industries. Representative Frank Lucas of Oklahoma, Agriculture Committee chairman, got more than $600,000 from the agribusiness lobby. Representative Paul Ryan of Wisconsin, Budget Committee chairman, got at least $1.4 million from various banks.