“They’re going to pay it not because anything great is going to happen as a result, but because something bad will happen if they don’t.”Link
Corporate board directors are cynical of spending on lobbying and political donations, according to new polling sponsored by the nonprofit Center for Political Accountability.
The survey, conducted by Mason-Dixon Polling & Research in early February, took an in-depth look at 255 corporate board directors’ attitudes about company political spending.
The survey comes as the country heads into the most expensive election cycle in history. Costs for the presidential race alone are expected to exceed $1 billion. And with the economy ranked as a top concern, business will certainly be a major political player. In January, the U.S Chamber of Commerce announced plans to spend more than $60 million on this year’s elections.
The board members saw donations and lobbying as a necessary but ineffective business tactic. Almost two-thirds described active political advocacy as “essential,” but only 29 percent said it resulted in favorable legislative, regulatory or tax treatment for their company and industry.“It’s sort of like mob protection money,” Mason-Dixon’s Larry Harris said at a conference on “Money, Politics and Corporate Risk” Thursday in New York. “They’re going to pay it not because anything great is going to happen as a result, but because something bad will happen if they don’t.”
