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Some Wall Street Democrats Are Sitting Out Georgia Senate Races

  • They fret that Warnock, Ossoff wins could lead to higher taxes
  • Novogratz says most Democrats in finance want split government
Bloomberg business news
Republicans Have Advantage in George Senate Runoff: Luntz

As deep-pocketed Democrats on Wall Street celebrate the ouster of President Donald Trump, some are privately showing little appetite for backing the party’s remaining skirmishes in Georgia.

Employees of securities and investment firms poured about $77 million into President-elect Joe Biden’s campaign and the super-PACs supporting him, more than quadruple what they steered toward Trump. But the pair of Democrats facing runoff elections in Georgia against Republican senators David Perdue and Kelly Loeffler on Jan. 5 are unlikely to see such lopsided support -- even with control of the chamber at stake.