Campaign Contributions from Beneficiaries of the Proposed Repatriation Tax Holiday

Nov 18, 2011 - Members of the Joint Select Committee on Deficit Reduction, also known as the "Super Committee," are hopeful that a repatriation tax holiday allowing domestic companies to claim profits made overseas at reduced tax rates will boost the economy by encouraging capital investment and job growth here in the United States. A similar proposal was enacted in 2004 (P.L. 108–357), however, and, according to a May 2011 report by the Congressional Research Service, "while empirical evidence is clear that this provision resulted in a significant increase in repatriated earnings, empirical evidence is unable to show a corresponding increase in domestic investment or employment."

The report highlights 12 companies that took advantage of the tax holiday but did not increase employment, and in most cases reduced employment, in the years following taking advantage of the tax holiday. Below is MapLight's analysis of campaign contributions to members of the Super Committee from PACs and employees connected to the companies mentioned.

  • Read the CRS report here; download the spreadsheet here.
Contributing Organization (PAC/Employees) Total Contributions (Jan. 1, 2001 - Jun. 30, 2011)
Citigroup $586,331
Colgate-Palmolive $2,450
Ford $178,550
Hewlett-Packard $160,999
Honeywell $205,858
IBM $209,920
Merck and Company $161,525
Motorola Solutions $89,296
National Semiconductor $10,575
PepsiCo $74,943
Pfizer $253,524
Procter & Gamble $187,370
   
Total $2,121,341
Recipient Organization Total (Jan. 1, 2001 - Jun. 30, 2011)
Christopher Van Hollen Citigroup $8,000
  Ford $2,500
  Hewlett-Packard $250
  Honeywell $20,000
  IBM $2,750
  Merck and Company $1,000
  Motorola Solutions $2,000
  Pfizer $10,000
  Procter & Gamble $1,000
     Van Hollen Total   $47,500
     
David Camp Citigroup $50,800
  Ford $31,750
  Hewlett-Packard $17,000
  Honeywell $27,120
  IBM $1,350
  Merck and Company $26,000
  Motorola Solutions $4,500
  National Semiconductor $2,000
  PepsiCo $6,564
  Pfizer $34,000
  Procter & Gamble $18,000
     Camp Total   $219,084
     
Frederick Upton Ford $70,600
  Hewlett-Packard $4,000
  Honeywell $17,000
  Merck and Company $22,000
  Motorola Solutions $19,996
  PepsiCo $3,500
  Pfizer $40,100
  Procter & Gamble $6,000
     Upton Total   $183,196
     
James Clyburn Citigroup $16,000
  Ford $2,500
  Hewlett-Packard $9,500
  Honeywell $22,500
  IBM $200
  Merck and Company $26,500
  Motorola Solutions $19,500
  PepsiCo $10,000
  Pfizer $44,764
     Clyburn Total   $151,464
     
Jeb Hensarling Citigroup $22,750
  Ford $3,500
  Hewlett-Packard $3,000
  Honeywell $12,500
  IBM $1,500
  Motorola Solutions $1,000
  PepsiCo $11,000
  Pfizer $8,500
     Hensarling Total   $63,750
     
John Kerry Citigroup $271,181
  Colgate-Palmolive $1,950
  Ford $24,250
  Hewlett-Packard $82,949
  Honeywell $31,188
  IBM $194,220
  Merck and Company $20,000
  Motorola Solutions $18,300
  National Semiconductor $8,575
  PepsiCo $6,779
  Pfizer $42,310
  Procter & Gamble $13,950
     Kerry Total   $715,652
     
Jon Kyl Citigroup $67,050
  Ford $7,000
  Hewlett-Packard $4,500
  Honeywell $11,000
  IBM $1,750
  Merck and Company $7,500
  Motorola Solutions $9,500
  PepsiCo $9,100
  Pfizer $10,000
  Procter & Gamble $8,500
     Kyl Total   $135,900
     
Max Baucus Citigroup $45,400
  Ford $23,350
  Hewlett-Packard $16,000
  Honeywell $15,000
  IBM $3,600
  Merck and Company $30,900
  Motorola Solutions $4,500
  PepsiCo $12,500
  Pfizer $24,100
  Procter & Gamble $12,800
     Baucus Total   $188,150
     
Patrick Toomey Citigroup $12,700
  Colgate-Palmolive $500
  Honeywell $250
  IBM $1,500
  Merck and Company $4,400
  Motorola Solutions $2,000
  PepsiCo $1,000
  Pfizer $5,750
  Procter & Gamble $7,000
     Toomey Total   $35,100
     
Patty Murray Citigroup $3,050
  Ford $1,000
  Hewlett-Packard $11,800
  Honeywell $17,500
  IBM $1,000
  Merck and Company $13,500
  Motorola Solutions $7,000
  Pfizer $18,500
  Procter & Gamble $5,000
     Murray Total   $78,350
     
Robert Portman Citigroup $74,400
  Ford $12,100
  Honeywell $10,300
  IBM $2,050
  Merck and Company $6,225
  PepsiCo $10,000
  Pfizer $10,000
  Procter & Gamble $114,120
     Portman Total   $239,195
     
Xavier Becerra Citigroup $15,000
  Hewlett-Packard $12,000
  Honeywell $21,500
  Merck and Company $3,500
  Motorola Solutions $1,000
  PepsiCo $4,500
  Pfizer $5,500
  Procter & Gamble $1,000
     Becerra Total   $64,000
     
Grand Total   $2,121,341

METHODOLOGY: Campaign contributions to the 12 members of the Joint Select Committee on Deficit Reduction from PACs and employees affiliated with the 12 organizations mentioned in a May 2011 CRS Report entitled "Tax Cuts on Repatriation Earnings as Economic Stimulus: An Economic Analysis." Those companies are Citigroup, Colgate-Palmolive, Ford, Hewlett-Packard, Honeywell, IBM, Merck and Company, Motorola Solutions, National Semiconductor, PepsiCo, Pfizer, and Procter & Gamble. Contributions data provided by the Center for Responsive Politics (OpenSecrets.org)

About MapLight: MapLight is a 501(c)(3) nonprofit, nonpartisan research organization that reveals money's influence on politics. If our work has been helpful to you, please consider supporting us.