Abbott, Baxter Boost US Democrats' Funds

8 September 1996

Two drugmakers, Abbott and Baxter, were among over 73 corporate contributors to give $100,000 or more to the Democrats' National Convention in Chicago. For the donations, the company chairman were named honorary vice chairman of the convention.

Because the Chicago '96 host committee set itself up as a nonprofit corporation, all contributions are tax-deductible. It denied that the donations would mean special access for the firms, but watchdog group Common Cause said this was just another form of political influence, rather than a mere business opportunity.

Health Care Stock Fears If Democrats Win Much has been made of the possible negative effects on health care stock prices should the Democrats win both the Presidency and control of Congress, and a recent AP survey lends credence to this, at least in terms of general interest.

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