Alcoa Inc. Forging More Political Strength
A multinational corporation who wants to sell more load-lightening high-strength solutions to the U.S. Department of Defense, has registered a second federal PAC to give contributions to federal candidates and committees.
Alcoa Inc. Employees’ Voluntary State and Federal Political Action Committee has registered with the Federal Election Commission. Peter Hong in New York is the treasurer. Alcoa Inc., a public company, is the world’s third largest producer of aluminum, and operates in over thirty countries. From its title, the new PAC appears to be a vehicle for coordinating employee contributions to federal and state candidates.
Peter Hong is already the treasurer of the company’s Alcoa Inc. Employees’ Voluntary PAC, which started in August 2011. The PAC collects contributions primarily from senior management. In the 2011-2012, cycle the PAC reported receipts of $239,866 and gave $156,500 to federal candidates and committees. Fifty-three per cent of contributions went to Republicans. Some of their largest contributions have gone to members of the Senate and House Armed Services Committee, such as Rep. Howard “Buck” Keon, R-Calif., chairman of the House Armed Services Committee; Rep. Mark Critz, D-Pa., member of the House Armed Services Committees; Sen. Kristen Gillibrand, D-N.Y., member of the Senate Armed Services Committee. Also receiving a top contribution was Sen. Sherrod Brown, D-Ohio, who sits on the Senate Banking Committee and is chairman of the subcommittee on Financial Institutions and Consumer Protection.
Alcoa Inc. lobbied on issues relating to proposed EPA regulations under the FY2014 Defense Authorization issues relating to Land, Sea and Air; issues relating to corporate tax reform; issues relating to LNG exports, advanced manufacturing technologies, DOE financial support programs; the Clean Air Act; Fiscal/Debt issues; and London Metal Exchange transparency. Alcoa is urging more disclosure by LME on who holds metal contracts. Alcoa would like the LME data transparency to be similar to that of the U.S. Commodity Futures Trading Commission. The Senate Banking Committee’s subcommittee on Financial Institutions and Consumer Protection held a hearing on the issue in July.