US tech companies rank among the top tech companies globally, but the United States remains a key market for them, given its size and growth opportunity. So, it stands to reason that these tech leaders are keeping an eye on the 2024 US election and what it could mean for the future of their businesses.
Organizations cannot contribute to candidates and party committees, but many have formed political action committees (PACs) that have contributed to campaigns. Here we take a look at some of the top global tech companies and how much their PACs have raised and spent on federal candidates during the 2024 election cycle, according to Open Secrets.
Not all tech companies are alike, and you may be surprised at where the money is going. Tech companies are corporations that could benefit from 2024 Republican presidential candidate and former president Donald Trump’s proposed tax cuts, and they may benefit or struggle during potential trade wars resulting from new tariffs. And some of these tech companies could benefit from Democrat presidential candidate and current vice president Kamala Harris’s tax credits for use of emerging technologies, or they could hurt from Trump’s crusade against what he calls the green new scam.
Some PACs opted to not donate to federal candidates this year. And one PAC raised a significant sum in support of one candidate.
The contribution amounts listed in the following slides were cited from Open Secrets on October 31, 2024.
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