News Release

Ryan Got $500,000 In Koch Money Days After House Passed Tax Law

MARY PAPENFUSS, mary.papenfuss at huffpost.com, @blatherat
Papenfuss is a longtime journalist who now reports for Huffington Post. She just wrote the piece “Paul Ryan Collected $500,000 In Koch Contributions Days After House Passed Tax Law,” which states: “Just days after the 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, according to a recent campaign donor report. …

“Koch Industries, one of the largest private corporations in the nation, operates refineries and manufactures a variety of products. The new tax law — which slices corporate tax rates from 35 percent to 21 percent, slashes estate taxes and includes a special deduction for oil and gas investors — is expected to save the Koch brothers and their businesses billions of dollars in taxes.

“Just 13 days after the tax law was passed, Charles Koch and his wife, Elizabeth, donated nearly $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.”