American bosses are desperately trying to de-MAGAfy
Ahead of the midterms, corporations want to win back favour with the Democrats.
Sign up now: Get ST's newsletters delivered to your inbox
Rebuilding ties with the Democrats will not be easy, says the writer.
PHOTO: MIKE KAI CHEN/NYTIMES
The Economist
American bosses once acted on the knowledge that, in politics, the wheel always turns. Parties came in and out of power, and so companies curried favour with both Republicans and Democrats regardless of who controlled the White House or Capitol Hill.
Many bosses have abandoned that even-handedness over the past two years. Companies identified a window of opportunity to advance their agendas, says Reggie Babin of Akin, a lobbying shop. Since Donald Trump’s return to power, pushing through long-desired mergers or securing regulatory changes has often meant abandoning bipartisanship – and dignity, judging by the many corporate donations to Trump’s garish new ballroom.