Frequently Asked Questions
What is a PAC?
What is the LSTA PAC?
Why was the LSTA PAC formed?
Why does the association need a PAC?
Federal and many state laws prohibit corporate trade associations, such as the LSTA, from contributing funds directly to federal candidates. Instead, eligible individuals can make voluntary contributions to the organization’s political action committee (PAC) to support candidates running for Congress.
Why is the LSTA PAC important?
Legislative decisions made in Washington, D.C. have the ability to impact our industry and the way our member firms do business. The LSTA PAC helps build relationships with policymakers and educate them about our issues so they can make more informed decisions. The PAC is our voice in the political space, allowing us to support candidates for Congress who understand and value our industry.
Who is eligible to contribute to the LSTA PAC?
Individual members of the Business Loans Coalition are eligible to contribute to the LSTA PAC. Employees of the LSTA’s corporate member firms who have provided the LSTA PAC with prior authorization are also eligible to contribute to the PAC. Individual contributors must also be U.S. Citizens or permanent resident aliens (i.e., green card holders) to participate.
How does the PAC choose which candidates receive financial support?
(2) Membership on relevant key committees that oversee our business issues.
(3) Leadership position or potential on those key committees.
(4) Locations of LSTA members and member firms in the member’s state or district.
(5) The member’s potential for election success and election competitiveness.
How is the LSTA PAC governed?
The LSTA PAC is governed by a Board of Directors made up of three individuals. Each individual will serve two-year terms, with no limit on the number of terms. One board position will be designated as a member-elected position, in which members of the Business Loans Coalition may select and/or vote on that representative at designated periods. The Board of Directors will expand to a full nine-member board within the first six months of 2020.
How may I contribute to the LSTA PAC?
To contribute, simply visit the “Support the PAC” page on this website and select your desired contribution type and amount.
How much should I contribute to the LSTA PAC?
Every contribution, regardless of amount, makes a difference. Members may contribute any amount, up to the maximum $5,000 per individual per calendar year.
How much can the LSTA PAC contribute to candidates?
The LSTA PAC can legally contribute up to $5,000 per election (primary, general and runoff) per federal candidate or to another federally registered PAC. There is no aggregate limit on PAC contributions to all federal candidates in any one calendar year.