The insurer has been among the largest local corporate donators to United States lawmakers.
Top rival insurance giants State Farm and Allstate have been among the largest sources of local corporate federal campaign donations. However, the former of the two has announced that it has stopped giving to those causes.
State Farm had been a heavy hitter for donations, including to lawmakers voting against Biden’s win certification.
The insurance company is also one of the top sources of federal campaign donations among all Illinois corporations. However, State Farm has announced that it would no longer be an active political donor.
This decision was made following the insurrection on January 6, 2021 in addition to the controversy surrounding giving money to the members of Congress whose votes were against the certification of the presidential election. Both State Farm and Allstate – two of the largest home and auto insurers in the country – have traditionally donated heavily to Capitol Hill lawmakers.
Federal campaign donations contributed to lawmakers voting against presidential election certification.
State Farm’s political action committee, individual executives, and company employees donated a total of $2.2 million to federal campaigns within the most recent two-year political cycle. This, according to political funding data aggregator Open Secrets. Among the 147 Republican representatives and senators who voted against the presidential campaign state electoral votes certification, 111 were in receipt of State Farm affiliate contributions. Those contributions totalled over $160,000.
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It’s important to note that a spokesperson from State Farm cited in a Chicago Business report said that Open Secrets and other aggregator sites aren’t always entirely accurate. The spokesperson underscored that its PAC donations are a matter of public record.
The report added that contributions made by individuals with a State Farm link were about three times those of the State Farm PAC. The PAC’s contributions made their way to 36 of the total House Republicans who voted against certifying the presidential election results.
“Our organization is saddened by the events that took place on Capitol Hill,” said the State Farm Spokesperson following the announcement of the cessation of federal campaign donations. “We strongly condemn violence and look forward to a peaceful transfer of power. In light of recent events, the State Farm federal PAC made a decision to suspend all contributions. The PAC will continue to evaluate this decision and re-examine the process used to support candidates. The State Farm federal PAC has supported candidates across party lines as part of our overall goal to ensure that insurance and financial services products remain affordable and accessible for all consumers.”