But for reasons that have baffled and intrigued seasoned operatives, the group has stopped writing those checks. So far, for the 2020 elections, the Chamber has reported just $1.6 million in political spending to the Federal Election Commission. By this point in 2016, it had spent more than $16 million. For context, it’s spent less this cycle than super PACs backing the short-lived Democratic presidential campaigns of former Massachusetts Gov. Deval Patrick and Washington Gov. Jay Inslee. So far this cycle, the Chamber is just the 43rd largest independent spender, according to CRP data.

“Holy shit,” said veteran Republican strategist and lobbyist John Feehery when presented with the Chamber’s spending total this cycle. “That’s shocking.”

The Chamber has backed just six candidates since last year. The group backed a successful primary challenge to Rep. Steve King (R-IA), supported a special election win for Rep. Tom Tiffany (R-WI), helped fend off one for the previously endangered Rep. Henry Cuellar (D-TX), and bought six-figure ad flights for two embattled Senate Republicans: Cory Gardner of Colorado and Susan Collins of Maine, for whom the chamber has also seeded a deep-pocketed super PAC. It’s also taken out a modest five-figures in digital ads for Sen. Thom Tillis (R-NC).