Facebook is halting political spending for at least the first quarter of 2021 following last week's deadly attack on the Capitol.
Why it matters: Tech companies have been de-platforming President Donald Trump and his supporters at a rapid pace since the attacks, and freezing political giving may be the next step tech companies take to show they're seriously rethinking their approach to Washington.
Details: Facebook will freeze all contributions to its political action committee and is launching a review of its political spending practices, company spokesman Andy Stone told Axios.
The big picture: Historically, tech PACs have given to both Republican and Democratic candidates, sometimes rankling Silicon Valley's predominantly left-leaning workers.
- Major banks and other corporations have also frozen corporate political giving in the wake of the attack. Other tech companies are likely to follow suit.
Between the lines: "This is the death knell of PACs for tech companies with activist employees," one source told Axios. "This is the final straw."
