August 3, 2015
I am outraged that the Securities and Exchange Commission has dropped the rule requiring publicly traded corporations to disclose their political spending from the unified agenda.
Return the rule to the unified agenda and complete the rule as soon as possible.
After the Supreme Court’s appalling Citizens United ruling, followed by 2012’s tsunami of election spending, bringing corporate “dark money” into the light should be a high priority for an agency charged with looking out for the interests of investors like me.
Giving CEOs the green light to use our retirement savings and investments as a political war chest for partisan interests like the U.S. Chamber of Commerce is exactly the wrong thing to do.
It would be absurd for a small business owner not to know if his or her company’s money is being spent to help elect politicians. The same holds true for shareholders. Both shareholders and the public must be fully informed as to how much corporations spend on politics and which candidates are being promoted or attacked. Disclosures should be posted promptly on the SEC’s web site.
It is imperative to curb the influence of corporate money in the political process. Visibility is the first step. You have the power to do the right thing. Please do it.
Thank you for considering my comment.