March 28, 2014
SEC
I am deeply concerned about the influence of corporate money on our electoral process.
In particular, I am appalled that, because of the Supreme Court's ruling in Citizens United v. Federal Election Commission, publicly traded corporations can spend investors' money in secret. The adverse affects of that ruling are already being felt in other ways, such as the case before the Supreme court regarding corporations attempts to exempt themselves from paying for healthcare plans' birth control expenditures. The unfettered interests of corporations are undemocratic and are putting citizens at risk of losing their rights.
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.
Sincerely,
Gail Schneider