November 17, 2013
The influence of corporate money is corrupting our political process, from election campaigns, to the types of legislation that are passed, and whether it is passed at all. The Supreme Court’s ruling in Citizens United v. Federal Election Commission overturned over 100 years of legal precedent, and it has already had a profound effect on the money spent directly on campaigns and by super PACs to influence lawmakers. At present, all of these activities occur in the dark, and the public does not know who is pulling the (purse) strings of the people elected to represent them.
I am writing to urge the Securities and Exchange Commission to issue a rule requiring publicly traded corporations to publicly disclose all their political spending. Both shareholders and the public must be fully informed as to how much the corporation spends on politics and which candidates are being promoted or attacked. Disclosures should be posted promptly on the SEC’s web site.
Thank you for considering my comment.