Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

'Stay out of politics,' Republican leader McConnell tells U.S. CEOs, warns of 'consequences'

Published 04/05/2021, 02:50 PM
Updated 04/05/2021, 02:50 PM
© Reuters.

By Richard Cowan

WASHINGTON (Reuters) - U.S. Senate Republican Leader Mitch McConnell lashed out at corporate America on Monday, warning CEOs to stay out of the debate over a new voting law in Georgia that has been criticized as restricting votes among minorities and the poor.

In a sign of a growing rift in the decades-old alliance between the conservative party and U.S. corporations, McConnell said: "My advice to the corporate CEOs of America is to stay out of politics. Don't pick sides in these big fights."

McConnell warned companies there could be risks for turning on the party, but he did not elaborate.

"Corporations will invite serious consequences if they become a vehicle for far-left mobs to hijack our country from outside the constitutional order," McConnell told a news conference in his home state of Kentucky.

Big business ties with Republicans began fraying under former President Donald Trump's leadership and the party's focus on voting restrictions has soured businesses embracing diversity as key to their work force and customer base.

Major Georgia employers Coca-Cola (NYSE:KO) and Delta Air Lines (NYSE:DAL) have spoken out against the law signed by Governor Brian Kemp, and Major League Baseball pulled the 2021 All-Star Game out of the state over the law strengthening identification requirements for absentee ballots and making it a crime to offer food or water to voters waiting in line.

"I found it completely discouraging to find a bunch of corporate CEOs getting in the middle of politics," McConnell said.

Trump spent months after losing his re-election bid falsely claiming that his defeat was the result of widespread fraud. He failed in dozens of legal challenges. Nonetheless, lawmakers in 47 states this year have introduced 361 bills imposing new restrictions on voting, according to the Brennan Center for Justice.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The Georgia law brought a backlash from some U.S. companies with strong ties to the state.

Coca-Cola Co Chief Executive James Quincey called the law "unacceptable" and a "step backwards." Delta Air Lines CEO Ed Bastian said: "The entire rationale for this bill was based on a lie: that there was widespread voter fraud in Georgia in the 2020 election."

Independent reviews have repeatedly shown that voter fraud is rare in the United States, and state and federal probes found no evidence of widespread fraud in the 2020 election which the Republican Trump lost to Democrat Joe Biden.

Corporate America has long thrown its political muscle behind Republican candidates and office-holders, often funneling more campaign contributions to conservative candidates than Democratic ones.

 

Latest comments

Jet fuel tax ro start in Georgia for Delta airlines. Lots of conservative state houses can target the leftist mobs.
so now GOP is taxing and regulating Corporate America, but the democrats are the socialist eh?
ironic.... don't ask for donations from corporate America at same time
and republicans historically like to hype more free market, less govt regulations....
it does not take much if I already lost and then u have to just make people believe u r in danger to get the power back people blindly trusting one side of the spectrum are modern slaves with free body but enslaved minds
Build Back Better Democrat Readers. They are sadly illiterate.
He warns of consequences to the CEOs.... he should have use April Fools day to say that... he doesn't know that the US CEOs are the ones that feeds him...
lmfao, Mitch is really telling CO'S to stay out of politics? Thats a good one; he's forgetting who's lobbiest's made him rich all these years.
Republicans are like a wild animal backed into a corner. They know they screwed up with Trump and years of voter supression tactics. Now that their b.s. is front page news, they see the doors closing on them.
The corporations own you dude, stay out of the way you puppet
Yes, I am sure these reviewers are as independent as the News media of this country. OH, wait. That's right, the media is all owned by rich peoples corporations. The same people who own our congressmen,senators, Judges and President. Very independent, as in completely divorced from the majority of citizens and totally the ******bunnies of the major stock holders of the world. The only thing going on in Georgia is a public fight between one group of rich traitors and another group of rich traitors.
CYNICISM
Said one of many wolves in sheep's clothing when spotted.
There you go republicans again with their goon tier behavior.Next they will say the public to stay away from politics.Next we are turning texas blue pos.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.