As the mid-term elections in the United States continue to heat up, a new report released Wednesday shows that Canadian corporations have registered at least $15.3 million USD in spending on direct lobbying of the U.S. federal government in the first nine months of 2014.
That includes $2.87 million by Canadian National Railway Company in the face of increasing regulatory attention to the rail transport industry on both sides of the border, said the report — Are Canadian corporations spending to influence the U.S. political process?
Written by The Shareholder Association for Research and Education (SHARE), the 13-page report noted that the TransCanada Corporation, well aware that the controversial Keystone pipeline project is up for approval at the federal level, spent $1.07 million on political lobbying from January to September.
The author of the report, Kevin Thomas, SHARE’s Director of Shareholder Engagement, said in a telephone interview that Canadian companies are clearly involved in political spending in the U.S.
“The problem is there’s no real requirement for disclosure on either side of the border that can quantify the extent of that spending,” Thomas said.