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September 27, 2011 01:55 am GMT
Facebook has filed to establish FB PAC, a political action committee intended to "give [Facebook's] employees a way to make their voice heard in the political process," presumably over and above voting and contributing independently to campaigns and other PACs.The company has spent about a million dollars lobbying over the last three years, according to Senate records and documented by OpenSecrets, with the sum spent increasing every year. For comparison, Microsoft, which also has its own PAC, spent around $9m per year at its peak, though that number has gone down to about a third of that now. Establishing a PAC will enable Facebook to make direct contributions to candidates and parties, and if it chooses, spend unlimited sums bankrolling secondary efforts like independent ad campaigns.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/NKdqovfqNUA/
Facebook To Form Its Own Political Action Committee
Facebook has filed to establish FB PAC, a political action committee intended to "give [Facebook's] employees a way to make their voice heard in the political process," presumably over and above voting and contributing independently to campaigns and other PACs.The company has spent about a million dollars lobbying over the last three years, according to Senate records and documented by OpenSecrets, with the sum spent increasing every year. For comparison, Microsoft, which also has its own PAC, spent around $9m per year at its peak, though that number has gone down to about a third of that now. Establishing a PAC will enable Facebook to make direct contributions to candidates and parties, and if it chooses, spend unlimited sums bankrolling secondary efforts like independent ad campaigns.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/NKdqovfqNUA/
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