American bosses once acted on the knowledge that, in politics, the wheel always turns.
asserted
wheel → act → politics
Parties came in and out of power, and so companies curried favour with both Republicans and Democrats regardless of who controlled the White House or Capitol Hill.
asserted
who → come → House
Many bosses have abandoned that even-handedness over the past two years.
asserted
bosses → abandon → years
Companies identified a window of opportunity to advance their agendas, says Reggie Babin of Akin, a lobbying shop.
asserted
Babin → identify → Akin
Since Donald Trump’s return to power, pushing through long-desired mergers or securing regulatory changes has often meant abandoning bipartisanship – and dignity, judging by the many corporate donations to Trump’s garish new ballroom.
asserted
pushing → push → ballroom
In a few days, however, the president is predicted to emerge from the midterm elections with a far weaker grip on Washington.
asserted
president → predict → Washington
Accordingly, much of corporate America has been desperately trying to scrub off its spray tan and deflate its lip filler.
asserted
much → try → filler
But rebuilding ties with the Democrats will not be easy.
asserted
rebuilding → rebuild → Democrats
One way this shows up is in the people that businesses appoint to handle government relations.
asserted
businesses → show → relations
In January 2025, the same month Trump was inaugurated, Meta elevated Joel Kaplan, its longtime Republican-whisperer, to be the social-media giant’s chief emissary.
asserted
Meta → inaugurate → Kaplan
On October 20th, it announced that Kaplan will be leaving the company.
asserted
Kaplan → announce → company
Paramount Skydance, which recently completed its takeover of Warner Bros Discovery with the president’s blessing, has hired a former staffer from the Biden administration to help court the Democrats.
asserted
which → complete → Democrats
Other companies that have enlisted former Democratic aides in the past six months include Palantir, a maker of data-analysis tools, as well as Polymarket and Kalshi, two prediction markets.
asserted
that → enlist → tools
The tilt away from Trump can also be seen in America Inc’s donations.
asserted
tilt → see → donations
Companies are barred from giving candidates money from their own coffers.
asserted
Companies → bar → coffers
But they can co-
asserted
they → co → ?
ordinate donations by setting up political action committees (PACS), which solicit voluntary contributions, mostly from company executives.
asserted
which → ordinate → executives
Those executives can also give to candidates directly or through trusts.
asserted
executives → give → trusts
The Economist examined federal filings covering donations by business leaders and their families across these channels.
asserted
Economist → examine → channels
In the second quarter of 2026, the latest period for which data are available in full, 33 per cent of their giving went to Democrats, up slightly from 31 per cent across 2025.
asserted
cent → go → 2025
Yet that vastly understates the shift, as a disproportionate share of mega-donors support Republicans.
asserted
share → understate → Republicans
Strip out the 10 biggest – including Elon Musk – and 51 per cent of donations in the second quarter went to the Democrats, up from 36 per cent throughout last year.
asserted
cent → strip → year
For the most part, America Inc still draws the line at supporting socialists.
asserted
Inc → draw → socialists
Of the $US287 million ($408 million) that executives donated to Democrats in the first half of this year, a mere $US9 million has gone to progressives, including those endorsed by the Democratic Socialists of America.
asserted
million → donate → America
Take out the donations given by Saikat Chakrabarti, most of which went to the entrepreneur’s own unsuccessful primary bid, and the figure drops to just over $US4 million.
America’s bosses, however, may find that even moderate Democrats have become unreceptive to their overtures.
uncertain
Democrats → take → overtures
Stopping data centres is not the only anti-corporate rallying cry that has pervaded the midterms.
asserted
that → stop → midterms
One former Democratic official sums up the party’s new outlook on corporate America bluntly: “We demand blood.”
asserted
We → sum → blood
Chris Hughes, a co-founder of Facebook and friend of the Democrats, notes that many tech bosses spent much of the past two years “running around Washington” trying to shape regulation in their interests.
asserted
bosses → note → interests
One venture capitalist predicts “a reckoning” after the midterms for those who cosied up to Trump.
asserted
who → predict → Trump
“History is not going to look back particularly favourably on those who leaned in.”
asserted
who → go → those
Sensing the threat, some have gone on the attack.
asserted
some → sense → attack
Sherrod Brown, the Democratic candidate seeking to return to the Senate, is a vocal critic of the crypto industry.
asserted
Brown → seek → industry
Fairshake, its flagship PAC network, is thus spending $US55 million in a bid to prevent his comeback.
asserted
Fairshake → spend → comeback
But some prominent industry figures – including Chris Larsen, co-founder of Ripple, a crypto-infrastructure provider – have opposed the effort, worrying that it will create animosity with Democratic lawmakers, and that Brown is unlikely to forget the attacks if he wins.
asserted
he → include → attacks
Larsen has donated through other channels to the Democrat’s campaign.
asserted
Larsen → donate → campaign
The blue wave may end up smaller than polls suggest.
uncertain
polls → end → ?
But even if the Democrats take the House only narrowly and lose the Senate, they will be able to give businesses a headache.
asserted
they → take → headache
Control of the lower chamber would give Democratic committee chairs the power to subpoena company files and call executives to testify.
asserted
Control → give → executives
That could cause embarrassment, or worse.
uncertain
That → cause → embarrassment
Washington lawyers say they have been fielding calls since the start of this year about potential investigations.
asserted
they → say → investigations
…and 8 more, not listed.
The Aporia
