December 5, 2013
I urge the Securities and Exchange Commission to re-consider its decision this week to remove a rule requiring publicly traded corporations to publicly disclose all their political spending from its priorities list.
As it stands, corporations may spend unlimited money on elections through groups that do not identify them as donors. These groups have spent a record $336 million during the 2012 elections, not including many millions more they spent in the form of issue ads (Source: Center of Responsive Politics: New Filings Shed Light on Hundreds of Millions in Dark Money Spending by Robert Maguire. November 21, 2013).
Since decisions made by lawmakers who benefit from these contributions affect everyone, both the public as well as corporate shareholders, have a right to know where and how much corporations spend on politics.
I ask that this rule of transparency, vital for a democracy, be re-considered and implemented as soon as possible, and that disclosures be posted promptly on the SEC's website.
Thank you for considering my comment.
Christine Ziebold MD PhD MPH