Real Estate, Wall Street Donors Jump in Late for Sens. Loeffler, Perdue

The two Georgia Republican incumbent senators in tight runoff races received late boosts from real estate and Wall Street donors, CNBC reports.

Sen. Kelly Loeffler, R-Ga., faces Democrat Rev. Rafael Warnock, while Sen. David Perdue, R-Ga., faces Democrat Jon Ossoff on Tuesday. The runoffs are necessary because no candidate received 50% of the vote in either race in the Nov. 3 general election, a requirement under Georgia state law.

The Democrat challengers have raked in the majority of donations, but in recent weeks, Wall Streeters, many fearing policies that could be enacted under a Joe Biden administration with both chambers of Congress in Democrat control, have flocked to fund Loeffler and Perdue, a source told CNBC.

If both Democrats win Tuesday, the Senate would be split 50-50 between Democrats and Republicans, giving Vice President-elect Kamala Harris the tiebreaking vote on legislation that falls on party-line votes.

Biden wants to raise taxes on corporations and families making more than $400,000 a year.

Perdue had trailed Ossoff in fundraising between October to mid-December, but at least 30 executives have recently contributed between $1,000 and the maximum of $2,800 to Perdue, CNBC reported, citing Federal Election Campaign Commission records.

Loeffler got at least a dozen similar donations. She is married to Jeffrey Sprecher, CEO of the Intercontinental Exchange, the parent company of the New York Stock Exchange.

Ossoff and Warnock have also received Wall Street contributions, but on a much smaller scale.

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