Wal-Mart once had the reputation as a “conservative” company no longer. Along with its support for employer-mandated insurance to hurt its competitors, it has shifted its campaign giving to the Democrats.
Ever since retail giant Wal-Mart announced on June 30 that it is embracing an employer mandate as part of health care reform, the company has been criticized by some congressional Republicans, the U.S. Chamber of Commerce and fellow retailers.
And Republicans are probably even more unhappy with the direction of the company’s political donations this election cycle.
Like many others in the business community, the company’s campaign contributions have moved with the power shift in Washington to Democrats from Republicans. Wal-Mart’s political action committee has doled out $108,500 to federal candidates and parties in the 2010 election cycle, with 69 percent to Democrats and 31 percent to Republicans, according to the Center for Responsive Politics. See here.
That is a switch from the 2008 cycle, when Wal-Mart gave out $1.24 million, of which 46 percent went to Democrats and 53 percent to Republicans. The change is even more pronounced when looking at the 2006 cycle, when the company’s PAC contributed $1.29 million to federal candidates, of which 32 percent went to Democrats and 68 percent to Republicans.
There’s nothing unusual in corporations running after the winners. But combine that with its health care stance, and Wal-Mart could give lessons on corporate prostitution.