ALEC Is Not Where Visa Wants to Be
Posted by Brendan Fischer on December 04, 2013
Financial services company Visa has dropped its membership in the American Legislative Exchange Council (ALEC), providing further evidence of ALEC’s dwindling membership in the wake of a major expose by The Guardian. Visa (whose slogan is “everywhere you want to be”) made the announcement to Boston Common Asset Management, which had been engaging with Visa over the past year on lobbying disclosure.
VISA logoCMD counted 50 corporations that had publicly dropped their ALEC membership, but according to internal ALEC documents published by The Guardian, ALEC estimates they’ve lost around 60 corporate members in the past two years, in the fallout over ALEC’s role in promoting Stand Your Ground legislation, voter ID, and an array of other controversial bills. As a result of that shrinking roster of corporate members, “in the first six months of this year [ALEC] suffered a hole in its budget of more than a third of its projected income,”The Guardian reports.
Visa’s departure won’t help close up those budgetary gaps. In addition to supporting ALEC through its membership dues and participation in the Commerce, Insurance, and Economic Development Task Force, Visa was a “Chairman” level sponsor of 2011 ALEC Annual Conference, which cost $50,000 the previous year. It also sponsored a Plenary Session at the 2011 meeting featuring FreedomWorks founder Dick Armey.