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 spent around $9m per year through its own PAC 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.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/NKdqovfqNUA/

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