Yet business groups have embraced the Democrat with their PAC money. With more than seven months before the 2008 election, Rangel has already attracted nearly $1.6 million from business PACs, surpassing the $1.2 million Thomas collected in 2004-2005, the last cycle in which Thomas was running for reelection. PACs representing finance and insurance, retail businesses and the healthcare industry have all ponied up to Rangel.
FedEx’s PAC, which didn’t contribute to Rangel last cycle, has maxed out this time with $10,000. Johnson & Johnson, Chrysler and Ford also don’t show up on Rangel’s PAC list in the 2006 cycle, but their PACs have offered $7,500, $7,000 and $2,500, respectively, in this cycle. Citigroup, which contributed $3,500 to Rangel in 2005-2006, has donated $10,000.
“Charlie Rangel is an unusually gifted person in terms of his interpersonal skills, and that is relevant to fundraising,” said Rep. Artur Davis (D-Ala.), who sits on Rangel’s committee. “It’s relevant to whether people like him and want to be supportive even if sometimes they don’t agree with his positions.”
Several business lobbyists said the fundraising totals show business is taking the pragmatic view that it needs to work with Rangel. Although he authored a tax bill last year that would have raised rates for the wealthiest households, he has also talked about lowering the corporate tax rate, and has shown a willingness to try to move trade deals negotiated by the Bush administration through Congress.
“Clients think you can work with him,” said one lobbyist, who asked to speak on background.
Unlike labor unions, which give overwhelmingly to Democrats regardless of which party is in power, business groups tend to reach out to the party calling the shots, and quickly shifted their donations to Democrats when they took over Congress in 2007, two lobbyists noted.
“We’re like the French,” one senior business lobbyist joked. “When the enemy comes to town, [we] invite them to sleep in the bedroom.”
Rangel’s success is also a sign that business groups believe he will remain the chairman of Ways and Means for some time, the senior lobbyist said. House Republicans have trailed their counterparts in fundraising all year, and political analysts say the chances of the GOP retaking the lower chamber next year are slim.
Individual contributions to Rangel likely reflect increased donations from K Street. He has raised almost $1.7 million from individuals, double what he took in during the 2005-2006 cycle. Most of the money comes from residents of New York and Washington, D.C., many of whom list legal, lobbying and financial services as their professions.
Davis described Rangel as among the four most influential members of the caucus, along with Pelosi, Hoyer and Energy and Commerce Committee Chairman John Dingell (Mich.). He said Rangel doesn’t look at his fundraising as a way to court influence with party leaders, but acknowledged that Rangel asserts himself over the party’s direction.
“Charlie has some very specific ideas about what this economy should look like, more effective public policy, very specific ideas about trade, and I think he’s very concerned about pursuing a substantive agenda,” Davis said. “He will be concerned about pursuing that agenda with the next president of the United States. So Charlie Rangel’s going to have an incredible amount of influence in this process.”
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