BUSTED: Paul Ryan Received $500,000 From Koch Brothers After House Passed Tax Bill
Shortly after the Republican-led House passed its version of the federal tax law slashing corporate tax rates, House Speaker Paul Ryan collected nearly $500,000 in campaign contributions from billionaire energy mogul Charles Koch and his wife, the Internationa Business Times reports.
According to the Wall Street Journal, Charles Koch and his brother David spent millions of dollars to get the tax law passed and are spending millions more in a public relations campaign in an attempt to boost support for the law.
Koch Industries, one of the largest private corporations in the nation, operates refineries and manufactures a variety of products, is expected to save billions of dollars in taxes thanks to the new tax bill.
Just days after the tax law was passed, Charles Koch and his wife, Elizabeth, donated $500,000 to Ryan’s joint fundraising committee, according to a campaign finance report filed Thursday.
Five other donors, including billionaire businessmen Jeffery Hildebrand and William Parfet, each contributed $100,000 in the last quarter of 2017, according to the records.
“It looks like House Speaker Ryan is quickly being rewarded for passing this legislation that overwhelmingly benefits the Kochs and billionaires like them,” Adam Smith, spokesman for campaign finance reform nonprofit Every Voice, told the International Business Times, which first reported the Koch contributions.
The Koch donations were paid into Team Ryan, which raises money for the speaker, the National Republican Congressional Committee and a PAC run by Ryan. On the same day, Charles and Elizabeth Koch also each donated $237,000 to the NRCC.
The Koch brothers, worth an estimated $100 billion together, have become the gorillas of dark money contributions distorting American democracy since the Supreme Court’s decision in Citizens United v. FEC lifted campaign contribution restrictions. The brothers are using their massive wealth to push a political their right-wing agenda in America, according to Jane Mayer, author of Dark Money: The Hidden History of the Billionaires Behind the Rise of the Radical Right.