What Companies Can Learn from Law Firms About Political Retaliation
When retribution from the Oval Office threatens the nation’s legal system, there is cause for worry in C-Suites across America.
When retribution from the Oval Office threatens the nation’s legal system, there is cause for worry in C-Suites across America.
“While the companies making these contributions may be seeking a favorable regulatory environment, these political donations further erode public trust and expose companies to legal, reputational, and business risks…”
A new report warns of “profound risks” in American politics as cryptocurrency companies increase their political spending and Donald Trump oversees regulatory retreat while promising to create a “crypto strategic reserve”.
What is a 501(c)(4) organization? According to The 2024 CPA-Zicklin Index of Corporate Political Disclosure and Accountability, IRC section 501(c)(4) exempts from federal income tax “certain civic groups and nonprofit organizations, whose primary purpose is to promote social welfare.”
“With Donald Trump, everything is transactional and based on his animosity towards people. Some companies donate to gain access, while others do so for protection,” Bruce Freed explains
“Every company is lining up to ‘buy favors,’” said Bruce Freed, CPA President.
“The donations to the inaugural fund are basically to gain favour and to gain access,” said Bruce Freed, president and co-founder of the Center for Political Accountability
The high risk of getting political spending wrong makes it ripe for focused oversight, said Bruce Freed, president of the Center for Political Accountability.
In thinking ahead to the 2025 proxy season, companies should consider, among other things, their CPA-Zicklin Index score.
When Donald Trump was elected the 47th US president earlier this month, he did so with considerable help from corporate America. But corporate money is not just deeply embedded in political campaigns, it also has a major influence on the success or failure of specific legislation.