You are correct, the venue license covers an event, and Raccoon I Like The Sound You Make When You Shut Up Vintage Retro Shirt no distinction is made. That’s why we see one of these posts every other week where an artist disagrees, the top comments are always “lawl they don’t understand the meaning of the song”. And if you go 5 or 6 comments down someone asks about the licensing. But you never see anybody winning any money from the campaign. Political Rallys need a different contract, the venue license doesn’t cover them. And artists can pull out of BMI if they are not following their guidelines when the contract goes up for renewal. It is generally not in BMI’s best interest to piss off their clients.
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I don’t think that has anything to Raccoon I Like The Sound You Make When You Shut Up Vintage Retro Shirt do with it. Much more likely is it was chosen for purposes of performative Christianity, focusing solely on the word “hallelujah.” It’s the same surface-level reason his campaign was using Neil Young’s “Rockin’ in the Free World” despite every other lyric in the song being clearly at odds with Trump. Legally, there are two different parts to a song; the composition and the performance. You only need permission to use the performance of an artist, through some type of license.