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U.S.

 Bank:  Politics,  Lobbying  and  Taxes  
 

  Political  Contributions     U.S.  Bank’s  PAC  made  $387,750  in  campaign  contributions  to  federal  candidates  in  the  2012  cycle,  32%  to   Democrats  and  68%  to  Republicans.  They  have  given  more  money  to  Republicans  than  Democrats  in   every  election  cycle  since  1998.     Lobbying     U.S.    Bank  spent  $1,019,600  on  federal  lobbying  in  2012.     Minnesota:     U.S.  Bank  spent  $66,000  in  2012  and  $100,000  in  2011  on  direct  lobbying  in  Minnesota.     U.S.  Bank  also  lobbies  against  tax  increases  on  corporations  and  wealthy  Minnesotans  through   their  leadership  of  the  Minnesota  Chamber  of  Commerce  (Rebecca  Paulsen  of  US  Bank  chairs  their   Fiscal  Policy  committee  and  Elliot  Jaffee,  president  of  U.S.  Bank’s  Twin  Cities  market,  sits  on  the   board)  the  Minnesota  Business  Partnership  (CEO  Richard  Davis  is  Chairman).     The  Chamber  and  the  Partnership  are  the  second  and  third  largest  lobby  associations  in   Minnesota,  spending  millions  of  dollars  a  year  opposing  fair  budget  solutions  like  higher  taxes  on   wealthy  Minnesotans  and  closing  corporate  tax  loopholes,  even  supporting  corporate  tax  cuts  that   would  make  deficits  worse.     U.S.  Bank  does  not  have  registered  lobbyists  in  Idaho.     Tax  Dodging     From  2010-­‐2012,  U.S.  Bank  received  a  federal  tax  subsidy  of  $2.6  billion.     U.S.  Bank  2010-­‐2012  Profits  and  Federal  Income  Taxes     Pre-­‐tax  Profits   $18,555,000,000   Federal  Income  Tax  Paid   $3,865,000,000   Tax  Rate   21%   Taxes  if  Paid  at  35%  Rate   $6,494,000,000   Tax  Subsidy   $2,629,000,000