Corporate Political Contributions
In the U.S. there are important federal and state campaign finance laws with which Pfizer complies, including those which prohibit and/or restrict the use of corporate treasury funds for political purposes. Corporate treasury funds may not be used to contribute to candidates for federal office. However, corporate treasury funds may be used, where legally permissible, to contribute to candidates for state and local office. With respect to independent expenditures, Pfizer’s policy precludes the company from making direct independent expenditures in connection with any federal or state election.
We are fully compliant with all federal, state, and local laws and reporting requirements governing corporate political contributions. In addition, at the end of every year, we request that trade associations that receive total payments of $100,000* or more from Pfizer annually provide us with the portion of our dues or payments used for expenditures or contributions that, if made directly by Pfizer, would not be deductible under section 162(e)(1)(B) of the Internal Revenue Code. The information we received from these trade associations for 2022 is reported below:
2022 List of Trade Association Dues Payments Used for Political Purposes
|Trade Association||Amount Used for Political Purposes|
|Alliance for Regenerative Medicine||$0.00|
|Biotech Industry Association||$0.00|
|California Life Sciences Assoc.||$0.00|
|Healthcare Leadership Council||$0.00|
|National Assoc. of Manufacturers||$0.00|
*Note in 2023, Pfizer lowered its threshold and going forward will request the above-mentioned information from trade associations to whom we pay dues of $25,000 or more.
All corporate political contributions are published annually in the Pfizer Political Action Committee (PAC) and Corporate Political Contributions report in compliance with Pfizer’s corporate policy.
The Pfizer PAC is a nonpartisan organization that provides opportunities for employees to participate in the American political process. The PAC makes contributions to candidates for both federal and state office and fully discloses its contributions on a regular basis to the Federal Election Commission and the appropriate state election authorities. We also disclose all of our corporate political contributions and employee PAC contributions annually on our website so the public can view our contributions in one place.
Board Oversight of Public Policy, Corporate Political Contributions and Lobbying Activities
The Board of Directors at Pfizer plays an important role in Pfizer’s public policy engagement and political participation. The Governance and Sustainability Committee of the Board is responsible for maintaining an informed status on the company’s issues related to public policy, including political spending policies and practices, through regular discussions and reviews of the company’s PAC and Corporate Political Contributions Reports, and the company’s lobbying priorities and activities through periodic reports from management.
View Pfizer Reports