Executives at the nation’s two largest private prison companies have been donating large sums to Pres. Trump and Republican candidates with an eye toward November elections that one of the corporations believes will lead to a rebound in its stock price.
The fortunes of private prison companies have become increasingly intertwined with the nation’s politics in an era when the Trump administration has been detaining tens of thousands of immigrants and asylum seekers at their facilities. Together, CoreCivic and GEO Group made about $1.3 billion last year in contracts with U.S. Immigration and Customs Enforcement. Each company relies on ICE for around 30% of its revenue.
detention centers in Texas and California. Those agreements would be difficult to unwind if Biden wins.George Zoley, GEO Group's founder and CEO, has given $514,800 to Republicans and just $10,000 to Democrats during the currentcycle, campaign finance records show. According to the nonprofit Center for Responsive Politics, people and groups linked to GEO have given more than $1.7 million, mostly to Republicans.
“The services we provide today are in no way different from the high quality, professional services we provided for eight years under President Obama’s administration,” Paez said. In discussing CoreCivic's contracts, Hininger told investors that ICE and the U.S. Marshals Service were preparing for the future “with not only the pandemic but also going into 2021 and maybe some outcomes in Congress and the White House.”ICE did not respond to requests for comment.
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