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30 Major U.S. Companies Spent More on Lobbying than Taxes
In fact, the report explains, the 29 companies that paid no tax actually received taxrebates over those three years, “ranging from $ 4 million for Corning (GLW) to nearly $ 5 billion for General Electric (GE).” The total value of the rebates received was nearly $ 11 billion; combined profits during the same period were $ 164 billion.
The amounts spent on lobbying ranged from $ 710,000 by Intergrys Energy Group to $ 84 million by General Electric. Others that spent heavily on lobbyists were PG&E (PCG), Verizon (VZ), Boeing (BA) and FedEx.