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Angry GOP donors threaten to close their wallets, go home

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The GOP donor class is about to take their balls home, and allow not the GOP play with them any more. Hmmm.

From reliably Republican-leaning POLITICO, but still…

Republicans are confronting a growing revolt from their top donors, who are cutting off the party in protest over its inability to get anything done.

The backlash is threatening to deprive Republicans of resources just as they’re gearing up for the 2018 midterms. Party officials are so alarmed that North Carolina Sen. Thom Tillis, who oversees fundraising for the National Republican Senatorial Committee, told his colleagues at a recent conference meeting that donations had fallen off a cliff after the Obamacare flop. The committee’s haul plummeted to just $2 million in July and August, less than half of what it raised in June.

“When you’re in a business and you tell your stakeholders you’re going to build a building or something, you have to follow through,” said Houston-based energy executive Dan Eberhart. “I can’t borrow money to build a building and then not follow through, which is what these guys are doing.” He said he’s spoken to four Republican senators over the past month to express his displeasure, mostly over the party’s failure to repeal Obamacare.

Behind the scenes, the GOP has begun to try to smooth things over with its most important givers. On Monday, Trump met with the party’s most prominent donor, Las Vegas casino mogul Sheldon Adelson, who has privately expressed frustration that the president hasn’t moved the U.S. Embassy in Israel from Tel Aviv to Jerusalem. And in the wake of an establishment-backed candidate’s loss in Alabama, a top McConnell political lieutenant, Steven Law, held a series of frank discussions with key benefactors.

Some of the donors are giving lawmakers an earful. Bruce Rastetter, an Iowa agribusiness mogul who has funded a long list of Republican elected officials, said he had informed his state’s two GOP senators, Chuck Grassley and Joni Ernst, that he would not donate to Republican senators “unless they pass new legislation or get new leadership.”

One seasoned GOP fundraiser forwarded along a curt email from a sought-after donor. “The GOP leaders should know, no movement on remaining agenda: tax reform, infrastructure, deregulation, etc. means no funding from supporters like me,” it read. “No meetings, calls, contributions until we see progress.”

The resentment over the state of the party has infiltrated Republican fundraising capitals like Dallas.

“I think major donors are tired of writing checks to a do-nothing Congress,” said Roy Bailey, an influential, Dallas-based GOP bundler.

To others, though, the disappointment over having so little to show for their investments is profound.

Michael Salzhauer, a New York real estate investor, said he had begun informing lawmakers that he’s done giving until they address health care and taxes.

(click here to continue reading Angry GOP donors close their wallets – POLITICO.)

As a political outsider who follows politics like some people follow sports, I do agree the ROI on political donation is horrible, especially recently. You donate millions, and what do you get? Paul Ryan’s undying love, but unless you are the NRA, you can’t be happy with the Do Nothing Congress. And just because someone is wealthy, does not mean they are automatically smart – I bet many of the GOP donor class are reading Breitbart and watching Fox News just as much as the Orange Dotard. Hence they want to move the US Embassy to Jerusalem, or repeal the ACA, Medicaid, and Medicare or whatever it is that conservatives really want to accomplish, other than destroying the country.

But the GOP donor class isn’t going to donate to the other party, and come election time, I’d hazard a guess the checks will start flowing again…

Written by Seth Anderson

October 5th, 2017 at 10:23 am

Posted in Business,politics

Tagged with ,

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