WASHINGTON (Bloomberg) -- General Motors Co., which is making plans to sell its stock to the public in November, has made its first campaign contributions since 2008, Federal Election Commission reports show.
Detroit-based GM, 61 percent owned by the U.S. Treasury, resumed donations through its political action committee, according to the company’s August FEC report, and has given $91,500 to candidates of both political parties. The PAC contributed $710,008 for the 2008 elections.
“Emerging as a new company, we are participating in the political process,” said GM spokesman Greg Martin. “We will not sit on the sidelines while our competitors in other industries have their voices heard.”
Among those receiving GM contributions were U.S. Reps. Eric Cantor, R-Va., the No. 2 House Republican, and the leadership PAC of House Majority Leader Steny Hoyer, D-Md.
GM emerged from bankruptcy in July 2009 and received a $50 billion taxpayer bailout. The company is seeking to raise as much as $16 billion through its initial public offering.