JP Morgan CEO Jamie Dimon listens as he’s launched on the Boston Faculty Chief Executives Membership luncheon in Boston, Massachusetts, U.S., November 23, 2021.
Brian Snyder | Reuters
J.P. Morgan Chase CEO Jamie Dimon and different executives from the financial institution contributed to the marketing campaign of centrist Democratic Sen. Kyrsten Sinema, who has opposed key items of her occasion’s and President Joe Biden’s agenda, throughout the first quarter.
Dimon, in keeping with Sinema’s newest Federal Election Fee submitting, donated $2,900 to the lawmaker’s political operation in February. That quantity is probably the most a person can provide on to a candidate’s marketing campaign. Information point out that Dimon gave to lawmakers on each side of the aisle within the final quarter, which spanned from January to March 31.
The senator, who has acquired assist from executives and company political motion committees since pushing again on her personal occasion, is up for re-election in 2024. Arizona is taken into account a swing state regardless of having two Democrats representing it within the U.S. Senate. [Sen. Mark Kelly is vying for re-election this year.] The state additionally went for Biden within the 2020 election, the primary time since 1996 {that a} Democrat gained Arizona.
Sinema has opposed sure items of Biden’s agenda, together with the thought of elevating the company tax charge to twenty-eight% from 21%. She helps the proposed 15% minimal company tax on declared revenue of huge firms, in the meantime. Many financiers inside Sinema’s personal occasion have already been plotting a major in opposition to her.
The donations from Dimon and the opposite J.P. Morgan executives got here after Sinema reiterated in January that she wouldn’t assist proposed modifications to the Senate’s filibuster rule. Mary Erdoes, the CEO of J.P. Morgan Chase’s Asset & Wealth Administration line of enterprise, gave $2,900 to Sinema’s marketing campaign in February. Robert Baynard, a vice chairman on the financial institution, gave $2,000 to her marketing campaign in late January.
Sinema’s management PAC, which is known as Getting Stuff Executed, noticed $5,000 from the financial institution’s PAC late final 12 months.
Sinema raised over $1.6 million final quarter, and her marketing campaign has just below $7 million available.
A consultant for Sinema didn’t return a request for remark. A spokeswoman for J.P. Morgan informed CNBC on Friday that Dimon additionally donated to the campaigns of Sens. Tim Scott, R-S.C. and Patty Murray, D-Wash., together with Reps. Hakeem Jeffries, D-N.Y., and Patrick McHenry, R-N.C. The spokeswoman declined to remark additional.
Dimon has been vocal about varied coverage points for years, together with taxes. At a Home Monetary Providers listening to final 12 months, Dimon took purpose at Biden’s proposed tax hikes.
“The tax enhance is definitely 4 instances what the tax lower was from 2017,” Dimon mentioned on the time. “You all know the phrase the satan is within the particulars, properly the main points listed here are all that matter, not the highest line of 28%.”
Dimon has additionally mentioned he isn’t in opposition to having larger taxes on the rich however believes any new laws might goal revenue.
Since he is turn out to be president, Biden has met with Dimon a number of instances. Axios reported that the Wall Road government pushed Biden for his administration to create a “Marshall Plan” to develop extra home gasoline and different power assets.