National Association of Realtors among biggest donors to “sedition caucus”

Real estate gave over $16M to Republicans who challenged election results

National /
Jan.January 11, 2021 05:45 PM
From left: Sen. Roger Marshall, Sen. Josh Hawley, Sen. John Kennedy, Sen. Ted Cruz and Senator Cindy Hyde-Smith (Getty, iStock)

From left: Sen. Roger Marshall, Sen. Josh Hawley, Sen. John Kennedy, Sen. Ted Cruz and Senator Cindy Hyde-Smith (Getty, iStock)

Big banks and major corporations are rethinking their political donations in the wake of last week’s violence in Washington — a decision the real estate industry must now confront.

According to OpenSecrets.org, which is affiliated with the nonprofit Center for Responsive Politics, the industry is among the largest donors to the members of Congress who contested President-elect Joe Biden’s Electoral College win last week.

All told, the real estate industry donated over $16.3 million to members of Congress who contested the election results— which some critics have dubbed the “sedition caucus.” Only two other categories — “retired” and “Republican/conservative” donors gave more.

The National Association of Realtors was among the top contributors. The trade association’s political action committee, Realtor PAC, funneled $1.27 million into the campaigns of legislators who voted to overturn the results.

The group’s contributions to individual objectors were typically for $16,000 or less. They included $10,000 to Sen. Cindy Hyde-Smith of Mississippi, $5,000 to Sen. Roger Marshall of Kansas and $1,000 each to Sen. Josh Hawley of Missouri, Sen. John Kennedy of Louisiana and Sen. Ted Cruz of Texas.

In total, Realtor PAC donated about $1.7 million to Republican candidates in the 2019-2020 election cycle and about $1.88 million to Democrats.

While the trade association did not announce any change to its stance on political contributions in the wake of Wednesday’s unrest, it did say it would “closely monitor events in Washington” before President-elect Joe Biden’s Jan. 20 inauguration.

In a statement, a spokesperson for NAR said its donations “are made in accordance with requests from state associations and approved by state trustees.”

“Decisions regarding our involvement in the 2022 federal elections will be made by following the same procedures and considering a multitude of factors impacting our nation and its real estate sector,” the statement continued.

Other top industry contributors to the legislators who challenged the Electoral College results include the National Association of Home Builders, which put $679,500 into their campaigns.

Among the industry players who have given generously to Republican lawmakers, some — including Blackstone’s Steven Schwarzman, a prolific Trump campaign contributor — swiftly condemned the violence at the Capitol and Trump’s role in inciting it.

“The insurrection that followed the president’s remarks [Wednesday] is appalling and an affront to the democratic values we hold dear as Americans,” Schwarzman said in a statement. “I am shocked and horrified by this mob’s attempt to undermine our Constitution. As I said in November, the outcome of the election is very clear and there must be a peaceful transition of power.”

[OpenSecrets] — Amy Plitt


Related Articles

arrow_forward_ios
Gil Dezer (Photos by Sonya Revell)
The Closing: Gil Dezer
The Closing: Gil Dezer
Brad Parscale and 2319 Desota Drive (Getty, Google Maps)
Brad Parscale, ex-Trump campaign manager, sells Fort Lauderdale home
Brad Parscale, ex-Trump campaign manager, sells Fort Lauderdale home
Donald Trump with sons Eric and Don Jr. and 1125 South Ocean Boulevard (Getty, Google Maps/Illustration by Alexis Manrodt for The Real Deal)
Trump lists beachfront mansion next to Mar-a-Lago for $49M
Trump lists beachfront mansion next to Mar-a-Lago for $49M
Photo illustration of Donald Trump at Mar-a-Lago (iStock, Getty/Illustration by Kevin Rebong for TRD)
Trump argues to live in Mar-a-Lago — as an employee
Trump argues to live in Mar-a-Lago — as an employee
535 North County Road and Mark Pulte with former President Donald Trump (Google Maps; Pulte Family Foundation; Getty)
Spec home built on Trump’s former Palm Beach property under contract for $140M
Spec home built on Trump’s former Palm Beach property under contract for $140M
Trump Plaza’s condo board votes to remove ex-president’s name from West Palm towers
Trump Plaza’s condo board votes to remove ex-president’s name from West Palm towers
Trump Plaza’s condo board votes to remove ex-president’s name from West Palm towers
Donald Trump Jr. and Kimberly Guilfoyle with 492 & 494 Mariner Drive (Getty, Google Maps)
Jupiter’s Admirals Cove residents speak out against Don Jr. and Kimberly Guilfoyle’s plans to move in
Jupiter’s Admirals Cove residents speak out against Don Jr. and Kimberly Guilfoyle’s plans to move in
535 North County Road (Palm Beach Property Appraiser)
Oceanfront Palm Beach spec mansion hits the market, asking record $140M
Oceanfront Palm Beach spec mansion hits the market, asking record $140M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...