Financial Supporters of the “Super Committee”

By MapLight.org, Special for US Daily Review. 

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

Recipient Organization Total (Jan. 1, 2001 – Jun. 30, 2011)
Christopher Van Hollen Citigroup $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 Camp Citigroup $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 Upton Ford $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 Clyburn Citigroup $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 Hensarling Citigroup $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 Kerry Citigroup $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 Kyl Citigroup $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 Baucus Citigroup $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 Toomey Citigroup $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 Murray Citigroup $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 Portman Citigroup $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 Becerra Citigroup $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)

A link to this data release can be found here.

All opinions expressed on USDR are those of the author and not necessarily those of US Daily Review.

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