Twitter increases transparency on political donations

Twitter increases transparency on political donations
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Twitter will post details of its political donations within two days, the company said on Wednesday.

The social media company said it would increase transparency around its political action committee — called #PAC.

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“We will conduct our #PAC activities with a high degree of transparency,” Public Policy Manager Tom Tarantino said in a blog post. “In addition to posting our, policies, and FEC reports, we are also committing to post notice of all donations to candidates within 48 hours.”

The committee was established in 2013, but records show its spending has been limited. The company, however, has indicated it wants to become more active politically.

Earlier this year, the social media network hired a trio of outside lobbyists — its first — to advocate for the company on a range of issues. The firms come from both Republican and Democratic backgrounds and will work on issues like government surveillance and net neutrality.

Last year, Twitter spent $310,000 on lobbying. It has spent $330,000 so far this year, according to the Center for Responsive Politics.

The company's announcement about its new rules for donations accompanied the debut of a new website promoting its policy projects.

The moves come as the company, facing flagging user growth and investor concerns, retrenches. Co-founder Jack Dorsey has returned as permanent CEO and is reportedly streamlining product offerings.

He has also presided over layoffs that hit 8 percent of the firm’s workforce around the world.

“We feel strongly that Engineering will move much faster with a smaller and nimbler team, while remaining the biggest percentage of our workforce,” Dorsey said in a memo to employees about the layoffs. “And the rest of the organization will be streamlined in parallel.”