JP Morgan CEO Jamie Dimon listens as he is introduced at the Boston College Executives Club luncheon in Boston, Massachusetts, U.S., November 23, 2021.
Brian Snyder | Reuters
JPMorgan Chase Chief Executive Officer Jamie Dimon and other bank executives contributed to the campaign of Center Democrat Sen. Kyrsten Sinema, who opposed key content in the program. agenda of her party and President Joe Biden, in the first quarter.
Dimon, according to Sinema’s latest Federal Election Commission filings, donated $2,900 to the lawmaker’s political activism in February. That amount is most of an individual may provide directly to the candidate’s campaign. Records show that Dimon gave legislators on both sides the aisle in the last quarter, which ran from January to March 31.
Senator, who received support from corporate executives and political action committees since pushing back its party, will run for re-election in 2024. Arizona is considered a revolving state despite having two Democrats represent it in the US Senate. [Sen. Mark Kelly is vying for re-election this year.] The state also backed Biden in the 2020 election, the first time since 1996 that a Democrat has won Arizona.
Movie theaters have protest Some parts of Biden’s agenda include the idea of raising the corporate tax rate from 21% to 28%. She support propose 15% minimum corporate tax while on the declared income of large corporations. Many financiers in Sinema’s owned the party conspired against her.
Donations from Dimon and other JP Morgan executives come after Sinema reiterated in January that she would not support the proposal. changes to Senate filtering rules. Mary Erdoes, CEO of JP Morgan Chase’s Wealth & Wealth Management Business, gave $2,900 to Sinema’s campaign in February. Robert Baynard, the bank’s vice president, donated $2,000 to her campaign in late January.
Sinema’s leadership PAC, called Getting Stuff Done, see $5,000 from the bank’s PAC at the end of last year.
Sinema raised more than $1.6 million last quarter, and her campaign has just under $7 million on hand.
A representative for Sinema did not request comment. A JP Morgan spokesman told CNBC on Friday that Dimon also donates to Sens campaigns. Tim Scott, RS.C. and Patty Murray, D-Wash., with Representatives Hakeem Jeffries, DN.Y., and Patrick McHenry, RN.C. The spokesman declined to comment further.
Dimon has been vocal on various policy issues over the years, including taxes. At last year’s State Financial Services hearing, Dimon took aim at Biden’s proposed tax increase.
“The tax increase is actually four times the tax reduction compared to 2017”, Dimon said at the time. “You all know the phrase the devil is in the details, and the details here are all that matter, not the top line of the 28%.”
Dimon has also said that he is not opposed to higher taxes on the rich but trust any new law could target income.
Since becoming president, Biden has met with Dimon several times. Axios reports that Wall Street exec pushed Biden for his administration create “Marshall Plan” to develop more domestic gas and other energy sources.