WASHINGTON -- The top five recipients of federal corporate tax breaks are also among the biggest spenders in the U.S. political system -- they shelled out a combined $7.86 million in campaign contributions during the 2010 elections (in political action committee and individual employee contributions), according to analysis from the New York City Public Advocate's office. Bill de Blasio, the public advocate, is now calling on these companies to verify that no taxpayer dollars will be used in future election spending, warning such a move could "carry financial risk to the [companies'] bottom line."
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According to the analysis by de Blasio's office, ExxonMobil, Bank of America, General Electric (GE), Chevron and Boeing had combined profits of $77.16 billion in 2010 but paid $0 in federal income taxes in their latest filing. At the same time, they gave a combined $7.86 million in political contributions during the 2010 election cycle -- a 7 percent jump over their 2008 political spending.
http://www.huffingtonpost.com/2011/05/03/recipients-corporate-tax-breaks-elections_n_856630.html
