Companies should not make political donations

Stating that in this political climate, “companies must consider whether any spending on political causes is in the interests of shareholders,” Comptroller Thomas DiNapoli called eight companies in which the state pension pool is invested. to make full disclosures.

“You know what? After what we’ve been through, maybe companies should consider not making any of these donations at all,” DiNapoli said. capital tonight in reference to the January 6 uprising.

When asked why disclosing political spending is so important, DiNapoli said it’s just smart corporate governance and reinforces accountability.

“In terms of supporting certain candidates or certain political organizations, for a company to give money to the company, I think that compromises the integrity of the company’s bottom line,” he said. . “We call for sunlight and, at a minimum, disclosure of your expenses.”

Of the eight companies mentioned by the Comptroller’s Office in its press release, two have so far complied: Both Hanes and Champion have agreed to disclose all political spending, “including payments to trade associations and other organizations exempt from tax which could be used for electoral purposes”. purposes in an annual report.

capital tonight also asked the state’s three-term comptroller if Governor Kathy Hochul had given him any information regarding her proposed term limits, which she made in her state of the state address on Wednesday.

“The short answer is yes,” DiNapoli said. “But it wasn’t a one-on-one week. It was a brief warning.

The Comptroller said that while he does not support term limits and is indeed running for a fourth term, he is not taking the proposal personally.

“The most important thing from my point of view is the ban on outside income,” DiNapoli said, referring to another of Hochul’s ethical proposals. “It was clearly an issue that complicated the last months of the previous governor. I think that makes sense.