Facebook's donations to politicians are dropping, even as it faces unprecedented attacks ahead of the 2020 election
Facebook is slowing its donations to US politicians, even as a hotly contested presidential election approaches.
And it is moving away from donating to candidates directly, instead directing its funds to Democratic and Republican Party committees only.Facebook is taking an unusually conservative approach to political donations in 2020. In the past, Facebook has funded Democratic Sen. Chris Coons of Delaware, Republican Sen.
Facebook's PAC spend over the past two two-year election cycles, and its projected total spend for 2020.Meanwhile, Facebook's revenues have grown dramatically — from $5.4 billion in the first quarter of 2016 to $17.7 billion in the first quarter of 2020, along with its corresponding profits. While in previous months and years Facebook has patronized a variety of politicians, in its July 2020 filing published Monday , it details donations to only four organisations: The Democratic Congressional Campaign Committee , the Democratic Senatorial Campaign Committee , the National Republican Congressional Committee , and the National Republican Senatorial Committee , of $15,000 apiece. As the 2020 election ramps up, Facebook has found itself increasingly under fire from all sides.
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