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Politics Senators who backed Trump's election challenge may rethink their stance on impeachment after losing corporate funding, experts say

02:05  24 january  2021
02:05  24 january  2021 Source:   businessinsider.com

'Never too late': Trump's second impeachment comes quickly compared to months-long investigation into Ukraine

  'Never too late': Trump's second impeachment comes quickly compared to months-long investigation into Ukraine House Democrats impeached President Trump for a second time only a week after the crime alleged, compared to a months-long probe for his first case.House Democrats began investigating Trump across six committees after regaining control of the chamber in January 2019. House Speaker Nancy Pelosi, D-Calif., declared a formal impeachment inquiry in September 2019. The House impeached Trump that December and the Senate acquitted Trump in February 2020.

Answering to critics who say impeachment proceedings would work against President Joe Biden' s repeated calls to unify a divided nation, Pelosi claims she is not worried. Trump is the first president to be impeached twice – by the House – and the first to face an impeachment trial after leaving office.

Those lies may have started with Trump , but they were enabled by every member of Congress who gave credibility to the fraud claims by not acknowledging Biden' s win. Read more: Mitch McConnell is telling GOP senators their decision on a Trump impeachment trial conviction is a 'vote of conscience'.

Donald Trump wearing a suit and tie talking on a cell phone: President Donald Trump pumps his fist as he departs on the South Lawn of the White House, on December 12, 2020. Al Drago/Getty Images © Al Drago/Getty Images President Donald Trump pumps his fist as he departs on the South Lawn of the White House, on December 12, 2020. Al Drago/Getty Images
  • The mass exodus of corporate backing could affect how senators vote on Trump's impeachment trial, experts say.
  • Dozens of companies have pulled funding from the GOP lawmakers who voted against Biden's certification.
  • CEOs say they increasingly have no choice but to bring politics into the boardroom.
  • Visit Business Insider's homepage for more stories.

Moral convictions may not be the only reason that GOP lawmakers are turning their back on former President Donald Trump.

Here are all the US presidents who have been impeached

  Here are all the US presidents who have been impeached The House voted on Wednesday to impeach Trump for inciting an insurrection, making him the first president in US history to be impeached twice. The Democratic-controlled House voted 232-197 to impeach Trump on a charge of inciting a violent insurrection on the US Capitol on January 6.Ten House Republicans, including the third-highest-ranking House Republican, Rep. Liz Cheney, joined their Democratic colleagues and voted in favor of Trump's impeachment.The House will now transmit the articles to the Senate, which will hold a trial on whether to convict Trump.

Senators say a few things have moved in Trump ' s favor. One significant development is that Trump decided "It starts losing its legitimacy," the first Republican senator said of an impeachment trial without A third Republican senator who said there are "five or six, maybe" votes to convict Trump

Impeachment started to emerge as an issue in the most important 2020 Senate races last week after Pelosi announced an inquiry into Trump . Here's where the senators running in 2020's most important races stand on Trump ' s impeachment .

Lawmakers who voted against certifying Joe Biden as president may also be rethinking their stance after losing corporate funding, experts told Insider.

After Trump supporters stormed the US Capitol in a desperate bid to overturn the presidential election results, which turned into a violent insurrection leaving five people dead, businesses have been quick to cut ties with Trump and the lawmakers who backed his baseless claims of election fraud.

Read more: Lawmakers, Hill staffers, and reporters recount the harrowing experience as a pro-Trump mob broke into the Capitol to protest the electoral-vote count

Walmart, Amazon, and Morgan Stanley are among the companies that have cut off political funding to the 147 GOP lawmakers who voted against certifying Joe Biden as president. Hallmark went a step further, and asked Republican Senators Josh Hawley and Roger Marshall, who both voted against Biden's certification, to refund its political donations.

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Lindell, a Trump advisor who backed many of his conspiracy theories about massive election fraud, appeared unexpectedly at the White House Friday afternoon. My Pillow guy Mike Lindell confirms he met with Trump for 5 min, says he offered what he described as evidence of election fraud.

Trump -no more political correctness – americans want their country back . For those who are awake, it is time to get provisions and any cash you may need just in case ATM’ s and all Every Patriot that is in the military needs to rethink their position, because they are being

This mass exodus of corporate backing could have an effect on politicians' actions, experts told Insider.

"Cutting funding hits these politicians where it hurts," Donald Hambrick, a professor of management at Smeal College of Business, Pennsylvania State University, told Insider.

Withholding donations is "probably the more profound of the actions that can be taken," he added.

The House of Representatives voted to impeach Trump on January 13. It's now up to the Senate to decide whether to convict him. If he gets the two-thirds majority required to be convicted, the Senate will then hold a vote on whether to bar him from ever holding public office again.

"I think senators are gonna be squirming," Hambrick said.

As more FBI reports and video footage of the riots are released, more companies will take action, making "senators squirm all the more," Hambrick added. This could ultimately affect how senators vote, he said.

Republican senators all over the place on impeachment

  Republican senators all over the place on impeachment Republican senators are all over the map when it comes to a conviction vote on an impeachment charge against former President Donald Trump for “incitement of insurrection.” © Provided by Washington Examiner Senators are weighing rage about the Jan.

Trump spent Inauguration Day worrying about his Senate impeachment trial, The Daily Beast reported. At Trump ' s first impeachment , just one Republican â€" Sen . Here's how 3 experts say you can boost your chances of getting one of those jobs.

President Donald Trump has refused to concede the 3 November election , repeatedly alleging fraud without With at least a dozen Republican senators now planning to challenge the election results in Utah Senator Mitt Romney, the only Republican to vote for Mr Trump ' s impeachment last year

"These corporations could have a substantial effect on senators' votes," he said.

"The Senate vote could be very much not in Trump's favor."

Trump's closest political allies are under pressure from some members of the party to continue supporting Trump and from companies and other politicians to pull away from him, Eric Schiffer, chairman of Reputation Management Consultants, told Insider.

California Rep. Kevin McCarthy, the House minority leader, may have begun back-pedalling in his support for Trump because of the corporate response, Hambrick said.

Kevin McCarthy wearing a suit and tie: House Minority Leader Rep. Kevin McCarthy and former president Trump, in the Oval Office. Anna Moneymaker/The New York Times/POOL/Getty Images © Anna Moneymaker/The New York Times/POOL/Getty Images House Minority Leader Rep. Kevin McCarthy and former president Trump, in the Oval Office. Anna Moneymaker/The New York Times/POOL/Getty Images

"People are saying it's primarily because of the corporate cuts he faces and his party faces. Observers are tracing his own about-face to these corporate cuts," Hambrick said, citing news reports he had read.

"People have traced it to all the cuts in corporate donations, specifically to him."

How Trump's second trial could be different from the first.

  How Trump's second trial could be different from the first. Senate Majority Leader Chuck Schumer announced Friday the impeachment trial of former President Trump would start on February 8.Senate Majority Leader Chuck Schumer announced Friday evening that the impeachment trial for Mr. Trump would begin on February 8. The House impeachment managers will deliver the single article of impeachment to the Senate on Monday, January 25. Senators will be sworn in as members of the impeachment court the following day, on Tuesday, January 26.

Insider contacted McCarthy's office for comment.

Companies aren't just removing funding

Cutting funding isn't the only action businesses can take to cut ties with Trump and his supporters.

In recent years, companies have been increasingly grouping together to write open letters, Hambrick said, but these may not have as big an influence on politicians.

"If the Business Roundtable wrote a letter, it would have some effect, but not as much as cutting political donations," Hambrick said.

Companies have likely cut funding to specific politicians before, Hambrick said, but "nothing on this scale, nothing with as much fanfare or visibility."

Businesses are also taking other actions in response to the siege, but these aren't necessarily directed at politicians, Forrest Briscoe, a professor of management at Smeal College of Business, Pennsylvania State University, explained.

Twitter, for example, purged 70,000 accounts associated with QAnon, a far-right conspiracy theory, and Amazon Web Services, Apple, and Google were among the companies who cut ties with Parler, a social media site popular with Trump supporters.

Briscoe also referred to the New York Stock Exchange. Jeffrey Sprecher heads up its parent company, Intercontinental Exchange (ICE). Sprecher is married to Georgia Senator Kelly Loeffler, an avid Trump supporter who supported his baseless claims of election fraud.

House Democrats plan to focus impeachment trial on how rioters reacted to Trump’s remarks

  House Democrats plan to focus impeachment trial on how rioters reacted to Trump’s remarks The impeachment managers and their advisers have scoured social media sites as they seek to build a case that the former president incited his supporters to attack the U.S. Capitol. With solemn looks on their mask-covered faces, the nine House impeachment managers walked over to the Senate shortly after 7 p.m. Monday to deliver the article against Trump, setting in motion his second Senate impeachment trial.

Loeffler had been among the lawmakers planning to vote against Joe Biden's certification as president, though she changed her mind after the siege. But her years of support for Trump could still cause businesses to rethink their relationship with the NYSE, Briscoe said.

As more information is released related to the siege, "it's gonna be uglier and uglier, and employees and customers are gonna lean on these companies to do something and basically punish the Republicans who helped bring this about," Hambrick said.

Companies are getting increasingly political

"A lot of us are hesitant to wade into political waters," a CEO told Jeffrey Sonnenfeld, founder of Yale's Chief Executive Leadership Institute, on condition of anonymity. "We don't want to bring politics into the boardroom or to our employees."

"But we need to recognize that threats to the rule of law are legitimate business issues," they continued."It's totally legitimate and therefore also very important that we speak out on these issues."

The number of companies responding to the Capitol siege will increase in the coming weeks, Briscoe said, and feeds into a longer-term trend of businesses becoming more political.

Their reasons for engaging in sociopolitical activism vary, he added.

"Sometimes it's clearly in the interests of the firm, and sometimes it's not, it's just about values and beliefs and positions that people have as citizens or personally," Briscoe explained.

Often, the companies decide to take action because of demand from their employees, Briscoe explained. Over recent years, staff have become increasingly vocal about their sociopolitical stances and have lobbied their companies to take action, he said. Google employees, for example, fought against Alphabet's contract with the US government's defense department on Project Maven, a drone warfare project - and, after months of protests, the company said it wouldn't renew the contract.

But it's not just employees who may have urged companies to respond to the Capitol siege.

CEOs are under pressure to consult their boards before they take actions such as cutting or limiting corporate funding, Hambrick said. And the directors may even have proposed the idea to the CEO in the first place, he added.

And here they have the backing of customers, too. Americans are overwhelmingly in favor of companies pausing funding, too, The Harris Poll found. In its survey of 1,960 Americans, nearly three in four said they support companies  pulling the plug on political donations for the time being.

Ultimately, what companies and CEOs do matters, Sonnenfeld told Insider.

"The business leaders right now are the most trusted pillar - over the clergy, public officials, even media and academic," he said.

Read the original article on Business Insider

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