Two alternative corporate political strategies are identified for Political Action Committee (PAC) contributions to candidates in the 1980 congressional elections: (1) a pragmatic effort to promote a particular company's best interests and (2) an ideological effort to promote conservatism. With the use of multiple regression, this article examines three theoretical explanations of corporate political strategies. The expectations of corporate liberal theory are not confirmed. Rather, there is support for both state structure and interlock theories. It is argued that, at least in 1980, business political behavior was ideologically conservative, which business understood to represent classwide rational interests.