Talk:General Electric

From SourceWatch
Jump to: navigation, search

These sections need to be updated

Political contributions and Lobbying

General Electric's political action committee (PAC) gave $1,281,400 to federal candidates in the 05/06 election cycle - 37% to Democrats and 63% to Republicans. [1]

GE spent $19,420,000 for lobbying in 2006. $4,050,000 of this total went to 39 outside lobbying firms including Ernst & Young, BKSH & Associates, Quinn Gillespie & Associates, and Akin, Gump, Strauss, Hauer & Feld. [2]

A report by Public Campaign revealed that between 2008 and 2010, General electric spent $84.35 million on lobbying. During the same time period, it received $4.373 billion in tax rebates, and made $10.46 billion in US profits, meaning that GE's tax rate was -45%. Executive compensation also jumped 27%, from $59,768,565 in 2008 to $75,958,80 in 2010. In addition, between 2009 and 2011, GE spent $3,640,588 on federal campaign contributions.

In 2012, the total amount of contributions received by GE was $3,866,936. Top candidate recipients included Mitt Romney with $332,875 and Barack Obama with $139,386. The reported lobbying amount for GE in 2012 was $21,120,000. As of 2012, there were 70 members who own General Electric shares.[3]

References

  1. 2006 PAC Summary Data, Open Secrets.
  2. General Electric lobbying expenses, Open Secrets, accessed October 2007.
  3. 2012 PAC Summary Data, Open Secrets., accessed March 2013