NEWS

Campaign Contributions from Beneficiaries of the Proposed Repatriation Tax Holiday

Jeffrey ErnstFriedman | November 18, 2011

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

RecipientOrganizationTotal (Jan. 1, 2001 - Jun. 30, 2011)
Christopher Van HollenCitigroup$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 CampCitigroup$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 UptonFord$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 ClyburnCitigroup$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 HensarlingCitigroup$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 KerryCitigroup$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 KylCitigroup$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 BaucusCitigroup$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 ToomeyCitigroup$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 MurrayCitigroup$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 PortmanCitigroup$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 BecerraCitigroup$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)

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