Georgia Power PAC Shorts Out

The Georgia Power Company Federal PAC reported  it ran short of funds during March and had a cash on hand balance of $-17,812 on 3/31. How a corporate PAC can do that and not dip in to corporate treasury funds is hard to understand. The PAC does appear to have a payroll deduction plan, with President and CEO William Bowers giving the most. The PAC reported it gave out $79,500 to federal candidates and committees, almost all to the Georgia delegation. The PAC was able to give $10,000 to Reps. Jack Kingston (R), John Barrow (D), Phil Gingrey (R), and Tom Price (R) by giving $5,000 to each member's campaign committee and also $5,000 to each member's PAC. In the 2011-2012 cycle the PAC gave out $211,500, with 67% going to Republicans. See 2011-2012 PAC profile.

Topics: corporations pacs