Contractor Political Donations Unscathed by Sequester
March 22, 2013
Members of Congress continue raising campaign cash from the defense industry at fundraisers across Washington, even as military contractors brace for revenue losses from sequestration’s deep federal spending cuts.
“Yes, we still ask our friends to help us out and to prepare for the next campaign,” said Rep. David Price, D-N.C., as he exited a fundraiser held for him at the Washington offices of Honeywell, a major defense contractor. “That is a part of life in Washington.”
Like many contractors, Honeywell expects at least a slight drop in defense revenue because of the sequester.
The company’s sales to the federal government dipped by $245 million from 2010 to 2012, with overall contracts totaling just under $4.2 billion last year, according to Securities and Exchange Commission filings.