Delivering the Equipment Finance Message to Policymakers

Capitol Connections and member engagement are crucial components of ELFA’s government relations strategy.

ELFA ADVOCATES on behalf of our 575 member companies on public policy issues. Our ability to do so, with one voice, requires more than just action by the association—member engagement is a crucial component to our success on public policy issues.

Once again, we will gather in our nation’s capital to advocate on behalf of the equipment finance industry. Capitol Connections 2023 will be in-person in Washington, D.C., on Wednesday, May 24. Registration for Capitol Connections will open soon at www.elfaonline.org/events. We will be announcing programming for this event to include issue-briefing webinar dates and special programming in the coming months. In keeping with previous years’ schedules, there will be an opening reception on Tuesday, May 23, and other ELFA events will also be held Tuesday (e.g., ELFA Board Meeting, Business Council Steering Committee meetings and the LeasePAC Chair’s Dinner).

Capitol Connections is just one part—but a crucial one—of the association’s government relations strategy. Our overall strategy relies on direct advocacy, grassroots mobilization and political engagement. By utilizing all three in our government relations strategy, we create an environment to achieve results for the industry.

Direct Advocacy

Direct advocacy, often called lobbying, is an expression of our right to “petition the government,” as stated in the First Amendment of the United States Constitution.

Elected officials come from diverse backgrounds and are not all aware of the ways legislation can impact the equipment finance industry. We can’t expect that every member, even those on congressional committees with direct responsibility for our industry, knows the ins and outs of equipment finance. As a result, much of ELFA’s direct advocacy efforts focus on education. Without education on the industry, lawmakers are unlikely to support legislation that would support our industry. 

When ELFA’s advocacy team weighs whether to advocate for any given matter, they first turn to the ELFA membership. Through BCSCs, working groups and other forms of engagement, ELFA members provide invaluable insight that helps to determine how current policy is working for the equipment finance industry.

Once a policy issue has been identified and if it calls for direct engagement, ELFA staff, often in coordination with member company volunteers, go directly to Members of Congress and their staff to educate them about the issue. Once that base level education is achieved, ELFA can advocate for the path that will lead to the best result for the equipment finance industry.  

Grassroots Mobilizations

Former Speaker of the House Tip O’Neill is known for the saying that “all politics is local.” Grassroots involvement from constituents is one of the most effective ways to advocate for a policy position to elected officials.

With constituent engagement being such an effective vehicle for advocacy, ELFA is proud to continue to host Capitol Connections in Washington, D.C. It’s a terrific way to meet with your elected officials to share your local story, and highlight the way in which policies directly impact their constituents. Capitol Connections brings industry voices to elected officials by giving a firsthand account of policy matters that affect the day-to-day of ELFA member companies. Capitol Connections is also an important part of the association’s Advocacy Champions program.

The grassroots portion of Advocacy Champions is not limited to Capitol Connections. ELFA members are encouraged to invite Members of Congress to your facilities to meet with your employees, and again educate them on the industry and the ways in which policies impact your employees and business. If you’re interested in hosting a Member of Congress at your business, please contact ELFA’s Federal Government Relations team.

Political Involvement

Political involvement is knowing which candidates understand and support the industry and helping them get reelected. Civic engagement goes beyond just voting. It can be volunteering on a campaign or assisting a candidate in your area by introducing them to community members and specifically your neighbors. These activities can propel a candidate into elected office and make them recognize you as a valuable resource when they need to know how a proposed policy will impact the local economy.

Just like growing a business takes capital, so does running a campaign. A political campaign takes funding to pay staff, run political advertisements and travel around the district. To help create a united voice, ELFA has its own political action committee, LeasePAC, to collect voluntary contributions from hundreds of employees at ELFA member companies and pool those funds to contribute to candidates who share our values. LeasePAC is guided by the LeasePAC Committee, which is composed of employees from ELFA member companies and oversees all PAC activities. To learn more, visit the LeasePAC website at www.elfaonline.org/leasepac. 

Engaging with those who represent us is important, so our policy priorities are known and acted on. Your participation is critical to helping ELFA deliver the equipment finance message to policymakers. With that in mind, if you would like to build a relationship with your Member of Congress in advance of Capitol Connections, please reach out to ELFA’s Federal Government Relations team.