Billionaire GOP donor and Baupost Group CEO Seth Klarman told the Boston Globe Sunday that he will donate money to Democratic candidates due to Republicans’ failure to hold President Trump accountable.
Klarman hopes that Democrats can flip the House of Representatives and the Senate in this year’s upcoming midterm elections. Klarman told the Globe, “The Republicans in Congress have failed to hold the president accountable and have abandoned their historic beliefs and values. For the good of the country, the Democrats must take back one or both houses of Congress.”
During Barack Obama’s presidency, Klarman donated over $7 million to Republican candidates, but The Boston Globe reports that he’s now donated to Democrats in 56 House races and 22 Senate races. Klarman said that he’s using the money he received from President Trump’s sweeping tax cuts, which largely benefit the rich. Klarman said, “I received a tax cut I neither need nor want. I’m choosing to invest it to fight the administration’s flawed policies and to elect Democrats to the Senate and House of Representatives.”
He continued by saying, “The Trump tax cuts could drive government deficits considerably higher,” and that the 2001 Bush tax cuts “fueled income inequality while triggering huge federal budget deficits.”
Not only has Klarman financially supported Democratic candidates, but he’s also donating money towards traditionally Democratic causes like gun control and environmental regulations. During the 2016 presidential election, he told Reuters that he voted for Hillary Clinton and referred to Trump as “completely unqualified for the highest office in the land.”