June 29, 2005

Headline: Big contributors to GOP reap big post-election rewards

Big contributors to GOP reap big post-election rewards
Just six months into a new term for President Bush and the Republican-controlled Congress, some of their heaviest donors are scoring victories on the legislative and regulatory fronts.

From rewrites of the laws governing bankruptcy and class-action lawsuits to relief for oil, timber and tobacco interests, GOP supporters who gave millions of dollars last year are reaping decisions worth billions from a Congress with more Republicans.

"Clearly, the election outcome has helped," says Bruce Josten, executive vice president of the U.S. Chamber of Commerce. "We are heading in the right direction. A lot more has been done by this time in a new session than usual."
What a shock? Who knew the GOP will reward there big money donors?
The finance sector gave nearly $195 million to the GOP in the 2004 elections. And 105 of Bush's 548 elite fundraisers - those who raised $100,000 or more - were from the world of finance, making it his biggest base of top-dollar support, at $34 million.

"Many of the traditional business supporters are really getting the agenda they wanted, and it seems to be speeding up," says Larry Noble, director of the Center for Responsive Politics, which studies the impact of money on politics.
Who the next to get their agenda pass in the GOP congress?
The Senate overwhelmingly approved a new national energy policy Tuesday that would provide more than $18 billion in tax breaks to spur more efficient use of resources, greater development of nuclear energy and increased reliance on renewable fuels such as ethanol.

The Senate measure, adopted by a bipartisan 85-12 vote, would offer no immediate reduction in gasoline prices at the pump. But some of its tax breaks are aimed at increasing domestic oil production.
Energy and natural resources interests gave $39.3 million to the GOP last year, three times the amount given to Democrats.

In other news, the sky is still blue, 2 + 2 = 4 and some Democrats still vote against working families to support GOP backed bills to repay GOP donors.


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