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 and his brother David spent millions of dollars to get the tax law passed and are spending millions more in a public relations campaign in an attempt to boost support for the law, The Wall Street Journal reported.
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.
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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.
The Koch donations were paid into Team Ryan, which raises money for the speaker, the National Republican Congressional Committee and a PAC run by Ryan. On the same day, Charles and Elizabeth Koch also each donated $237,000 to the NRCC.
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Speaker of the House Denis Hastert (L) administers the oath of office to Rep. Paul Ryan (R) of Wisconsin as his family looks on January 6, 1999 at the start of the 106th Congress. The oath is a recreation as the formal oath is administered to the entire congress as a body on the floor of the House. (photo by Rex Banner)
UNITED STATES - DECEMBER 12: Rep. Paul Ryan, R-Wis., speaks at a news conference in which House Republican leaders called for Permanent Tax Relief. (Photo By Tom Williams/Roll Call/Getty Images)
KRT US NEWS STORY SLUGGED: SOCIALSECURITY-DISCUSSION KRT PHOTOGRAPH BY GEORGE BRIDGES/KRT (April 14) Conversation on Social Security between Rep. Paul Ryan (R-WI), shown, and William Novelli, head of AARP, April 5, 2005 (lde) 2005 (Photo by George Bridges/MCT/MCT via Getty Images)
UNITED STATES - JULY 22: MEDICARE BRIEFING--Rep. Paul Ryan, R-Wisc., speaks at a Cato Institute briefing on Medicare reform in the Rayburn House Office Building. Tom Miller, director of Health Policy Studies at Cato, looks on. (Photo by Scott J. Ferrell/Congressional Quarterly/Getty Images)
WASHINGTON - SEPTEMBER 24: Rep. Paul Ryan (R-WI) questions Peter Orszag, director of the Congressional Budget Office, during a hearing on Capitol Hill about the impact of recent market turmoil on the federal budget on September 24, 2008 in Washington, DC. Orszag reported that while the impact is currently unknown, it is likely to be substantially less than $700 billion. (Photo by Brendan Hoffman/Getty Images)
WASHINGTON - APRIL 27: House Budget Committee ranking member Rep. Paul Ryan (R-WI) (R) delivers an opening statement during a conference committee meeting with Senate Budget Committee Chairman Kent Conrad (D-ND) (L) and House Budget Committee Chairman John Spratt (D-SC) in the U.S. Capitol April 27, 2009 in Washington, DC. House and Senate lawmakers have already struck a tentative deal on the FY2010 budget resolution and they hope to file a conference report after today's meeting. (Photo by Chip Somodevilla/Getty Images)
WASHINGTON - MARCH 19: (L-R) U.S. House Minority Whip Rep. Eric Cantor (R-VA), Rep. Dave Camp (R-MI) and Rep. Paul Ryan (R-WI) listen during a news conference on the health care legislation March 19, 2010 on Capitol Hill in Washington, DC. The House will vote on the Health Care Reform Legislation on Sunday, March 21. (Photo by Alex Wong/Getty Images)
Representative Paul Ryan, a Republican from Wisconsin and chairman of the House Budget Committee, speaks during a news conference at the U.S. Capitol in Washington, D.C., U.S., on Tuesday, April 5, 2011. U.S. House Republicans today unveiled a plan to overhaul the federal budget and slash the deficit in coming years by about three-quarters, with a $6-trillion cut in spending and 25 percent cap on tax rates. Photographer: Joshua Roberts/Bloomberg via Getty Images
MEET THE PRESS -- Pictured: Rep. Paul Ryan (R-WI) left, and moderator David Gregory, right, appear on 'Meet the Press' in Washington, D.C., Sunday, April 10, 2011. (Photo by William B. Plowman/NBC/NBCU Photo Bank via Getty Images)
MILWAUKEE, WI - APRIL 01: Republican Presidential candidate, former Massachusetts Gov. Mitt Romney (R) jokes with U.S. Rep Paul Ryan (C) (R-WI) during a pancake brunch at Bluemound Gardens on April 1, 2012 in Milwaukee, Wisconsin. With less than a week before the Wisconsin primary, Mitt Romney continues to campaign through the state. (Photo by Justin Sullivan/Getty Images)
WASHINGTON, DC - APRIL 26: House Budget Chairman Rep. Paul Ryan (R-WI) is introduced before speaking about 'America's Enduring Promise,' and the federal budget, in a speech at Georgetown University April 26, 2012 in Washington, DC. During his speech, Ryan said that his proposed budget confronts the nation's growing $15 trillion debt before it impacts future generations of Americans. (Photo by Win McNamee/Getty Images)
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UNITED STATES - SEPTEMBER 14: Rep. Paul Ryan, R-Wis., Vice Presidential candidate, waves to the crowd after addressing the Values Voter Summit at the Omni Shoreham Hotel in Woodley Park. Photo By Tom Williams/CQ Roll Call)
NEWPORT NEWS, VA - SEPTEMBER 18: Republican vice presidential candidate, U.S. Rep. Paul Ryan (R-WI), pauses as he speaks during a campaign rally at Christopher Newport University September 18, 2012 in Newport News, Virginia. Ryan continued to campaign for the upcoming presidential election. (Photo by Alex Wong/Getty Images)
MIAMI, FL - SEPTEMBER 22: Republican vice presidential candidate, U.S. Rep. Paul Ryan (R-WI) hugs waitress, Lourdes Alcerro, during a campaign stop at Versailles restaurant in the Little Havana neighborhood on September 22, 2012 in Miami, Florida. Ryan continues to campaign for votes across the country. (Photo by Joe Raedle/Getty Images)
Republican presidential candidate Mitt Romney (R) and running-mate Paul Ryan share a laugh as they are introduced at a campaign rally September 25, 2012 at Dayton International Airport in Vandalia, Ohio. AFP PHOTO/Mandel NGAN (Photo credit should read MANDEL NGAN/AFP/GettyImages)
Representative Paul Ryan, a Republican from Wisconsin, arrives at a news conference on Capitol Hill in Washington, D.C., U.S., on Tuesday, Oct. 20, 2015. Ryan said he'd be willing to run for speaker of the U.S. House if Republicans unify behind him now, end leadership crises and let him continue spending time with his family. Photographer: Andrew Harrer/Bloomberg via Getty Images
Representative Paul Ryan, a Republican from Wisconsin and chairman of the House Ways and Means Committee, center right, walks down the steps of the U.S. Capitol building following a vote in Washington, D.C., U.S., on Friday, Oct. 9, 2015. Ryan is under heavy pressure from fellow Republicans to run for U.S. House speaker after a hard-line faction forced Speaker John Boehner to resign and his top lieutenant to drop out of the race. Photographer: Andrew Harrer/Bloomberg via Getty Images
Representative Paul Ryan, a Republican from Wisconsin, walks to a meeting in the basement of the U.S. Capitol in Washington, D.C., U.S., on Tuesday, Oct. 20, 2015. Ryan is set to meet with a group of House conservatives Tuesday as he weighs a potential run to replace Speaker John Boehner under pressure from fellow Republicans. Photographer: Andrew Harrer/Bloomberg via Getty Images
Representative Paul Ryan, a Republican from Wisconsin and chairman of the House Ways and Means Committee, center, talks to the media after walking out of the U.S. Capitol building following a vote in Washington, D.C., U.S., on Friday, Oct. 9, 2015. Ryan is under heavy pressure from fellow Republicans to run for U.S. House speaker after a hard-line faction forced Speaker John Boehner to resign and his top lieutenant to drop out of the race. Photographer: Andrew Harrer/Bloomberg via Getty Images
UNITED STATES - OCTOBER 20 - Rep. Paul Ryan, R-Wis., speaks at a news conference following a House Republican meeting, on Capitol Hill in Washington, Tuesday, Oct. 20, 2015. Ryan is stating that he will run for speaker only if he receives enough GOP support by the end of the week. (Photo By Al Drago/CQ Roll Call)
US Speaker of the House Paul Ryan, Republican of Wisconsin, awaits the arrival of Israeli President Reuven Rivlin for a meeting at the US Capitol in Washington, DC, December 10, 2015. AFP PHOTO / SAUL LOEB / AFP / SAUL LOEB (Photo credit should read SAUL LOEB/AFP/Getty Images)
WASHINGTON, DC - DECEMBER 10: House Speaker Paul Ryan (R-WI) holds his weekly press briefing on Capitol Hill on December 10, 2015 in Washington, D.C. Paul Ryan spoke on topics including Donald Trump and the spending bill. (Photo by Allison Shelley/Getty Images)
WASHINGTON, DC - DECEMBER 15: Speaker of the House Paul Ryan, (R-WI) speaks during a Politico interview at the Grand Hyatt on December 15, 2015 in Washington DC. Ryan was interviewed by Politico's Chief White House Correspondent Mike Allen during a Politico Playbook Breakfast. (Photo by Mark Wilson/Getty Images)
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Speaker of the House Paul Ryan (R-WI) listens as U.S. President Donald Trump speaks during a meeting with members of the Republican Congressional leadership at the White House in Washington, U.S., June 6, 2017. REUTERS/Joshua Roberts
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The Koch brothers, worth an estimated $100 billion together, have become the gorillas of dark money contributions distorting American democracy since the Supreme Court’s decision in Citizens United v. FEC lifted campaign contribution restrictions. The brothers are using their massive wealth to push a political agenda that’s the “most hard-line libertarian philosophy” in America, according to Jane Mayer, author of Dark Money: The Hidden History of the Billionaires Behind the Rise of the Radical Right.
Ryan has indicated that he won’t run again when his term is up this year, Politico reported, though he hasn’t made an official announcement. If he doesn’t run, his contributions would be redirected.