Political Contributions | Interfaith Center on Corporate Responsibility

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<h4>Resolution Details</h4>
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<strong>Company:</strong>
<p>Oshkosh Corp.</p>
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<strong>Year:</strong>
<p>2025 </p>
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<strong>Issue Area:</strong>
<p>Lobbying & Political Contributions </p>
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<strong>Focus Area:</strong>
<p>Political Contributions </p>
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<strong>Status:</strong>
<p>Filed</p>
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<h2>Resolution Text</h2>
<p><strong>Resolved</strong>, shareholders request the Company to prepare and semiannually update a report, which shall be presented to the pertinent board of directors committee and posted on the Company’s website, disclosing the Company’s:<br> <br>(a) Policies and procedures for making electoral contributions and expenditures (direct and indirect) with corporate funds, including the board’s role (if any) in that process; and <br><br>(b) Monetary and non-monetary contributions or expenditures that could not be deducted as an “ordinary and necessary” business expense under section 162(e)(1)(B) of the Internal Revenue Code, including (but not limited to) contributions or expenditures on behalf of candidates, parties, and committees and entities organized and operating under section 501(c)(4) of the Internal Revenue Code, as well as the portion of any dues or payments made to any tax-exempt organization (such as a trade association) used for an expenditure or contribution that, if made directly by the Company, would not be deductible under section 162(e)(1)(B) of the Internal Revenue Code.<br> <br>The report shall be made available within 12 months of the annual meeting and identify all recipients and the amount paid to each recipient from Company funds. This proposal does not encompass lobbying spending.<br> <br><strong>Supporting Statement</strong><br>Long-term Oshkosh shareholders support transparency and accountability in corporate electoral spending. The Conference Board’s 2021 “Under a Microscope” report <https://www.conference-board.org/publications/Under-a-Microscope-ES>  warns “Political activity can pose increasingly significant risks for companies, including the perception that political contributions – and other forms of activity – are at odds with core company values.” <br> <br>A recent poll of retail shareholders by Mason-Dixon Polling & Research found that 83% of respondents said they would have more confidence investing in corporations that have adopted reforms that provide for transparency and accountability in political spending.<br> <br>Oshkosh discloses a brief policy regarding direct corporate contributions to candidates and parties as well as payments to influence the outcome of ballot measures but this is deficient because Oshkosh’s policy does not address all direct and indirect corporate-funded election-related spending, including payments to 501(c)(4) organizations and 527 groups, and the nondeductible portion of payments to trade associations. Our company scored only 24% out of a possible 100% in the 2024 CPA-Zicklin Index of Corporate Political Disclosure and Accountability:<br>https://www.politicalaccountability.net/wp-content/uploads/2024/10/2024-CPA-Zicklin-Index.pdf<br> <br>This proposal asks Oshkosh to disclose all of its electoral spending, including payments to Trade Associations and 501(c)(4) social welfare organizations, which may be used for electoral purposes–and are otherwise undisclosed. This would bring our Company in line with a growing number of leading companies, including Fortive Corp., AECOM, and Illinois Tool Works, Inc., which present this information on their websites.<br> <br>Without knowing the recipients of our Company’s political dollars we cannot sufficiently assess whether our company’s election-related spending aligns or conflicts with its policies on climate change and sustainability, or other areas of concern. Improved Oshkosh political spending disclosure will protect the reputation of Oshkosh and preserve shareholder value. </p>

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<h3>Lead Filer</h3>
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<div class=”views-field views-field-nothing”><span class=”field-content”> John Chevedden</span></div><div class=”views-field views-field-title views-field-field-shareholder”><span class=”field-content”>Chevedden Corporate Governance</span></div>
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