October 3, 2015
Securities and Exchange Commission
Dear Securities and Exchange Commission,
I am writing to urge you to return rule #4-637 to your agenda this year for swift enactment.
This rule, requiring public companies to disclose political spending and funding of trade and business associations, is essential to making our policy processes more transparent and holding corporations accountable for their political influence.
With no requirement for corporations to disclose political donations or funding of organizations, the public is left in the dark about how companies are using their money to hinder policies that are in the public interest.
This proposed rule has received more than one million comments of support--more than any other SEC rule. And 81 percent of Americans believe that corporations should only spend money on political campaigns if they disclose that spending publicly. Commissioners should not ignore this overwhelming public support and cave to pressure from business interest groups who want to continue to operate in secret.
Operating in secret NEVER serves the public interest, and SEC exists to serve the common good, not corporate good. Over and over again, corporations have demonstrated that their greed for profits over-rides concerns for a healthy planet.
Please enact rule #4-637.
Sincerely,
Magaretha Herman