What is a Political Action Committee (PAC)?
A PAC is a group of individuals with common values and ideals who voluntarily pool their money to support candidates running for office that share their values and ideals.
Why does ELFA have a PAC?
As the primary advocate for the equipment leasing and finance industry in Congress, ELFA understands the issues facing the industry. ELFA staff works to educate elected officials on the impact policy issues have on the industry. By supporting candidates who understand and share the values of the industry, ELFA and LeasePAC help create an environment favorable to the policy objectives of the industry.
Who else has a PAC?
There are thousands of PACs that represent labor, Fortune 500 companies, local businesses, trade associations, or single-issue campaigns.
How is LeasePAC funded?
LeasePAC is funded by the voluntary contributions of hundreds of employees of ELFA members.
How is the money spent?
Money contributed to LeasePAC is used to support candidates running for the U.S. House of Representatives and U.S. Senate. In some instances, a contribution maybe made to certain national political party organizations when appropriate.
What are the reporting requirements?
The Federal Election Commission (FEC) requires LeasePAC to collect and report the name, occupation, employer, and mailing address of anyone who contributes $200 or more in a calendar year.
Are contributions tax deductible?
Contributions to LeasePAC are not deductible for Federal income tax purposes.
Are contributions reimbursable?
A contribution to LeasePAC cannot be reimbursed by your company as part of a business expense, or by anyone else. Federal law prohibits companies from directly contributing to candidates running for office and to PACs.
What companies have given prior approval?
Almost 100 companies have given approval for LeasePAC to communicate with their employees. See if your company has given prior approval.
Contributions to LeasePAC are not deductible for Federal income tax purposes. Contributions to LeasePAC are used to support federal candidates and committees. Participation is strictly voluntary. Employees have the right to refuse to contribute without reprisal. Contribution guidelines are merely suggestions. You are free to contribute more or less than the guidelines suggested or nothing at all. Neither ELFA nor your employing company will favor or disadvantage any employee based on the amount of a contribution or a decision to not contribute. Political contributions cannot be reimbursed by an employees' company or any other person. Only U.S. citizens or lawfully admitted permanent residents are eligible to contribute.
Federal law requires political action committees to use their best efforts to collect and report the name, mailing address, occupation, and name of employer for each individual whose contributions aggregate in excess of $200 in a calendar year.