RE: Inform Shareholders, Protect Democracy
Representative Meng and others are preparing to introduce the Corporate Politics Transparency Act which would require publicly-traded corporations to disclose their political spending to shareholders.
We, the undersigned - a diverse coalition of investors, environmental groups, transparency advocates and campaign finance reform groups - encourage you to join your colleagues in the call to require that corporations open their books on political spending.
The Supreme Court's Citizens United vs. FEC decision opened the floodgates for unaccountable, secret money to rush into our elections. Transparency is both a cornerstone of a strong democracy and an important starting point in the process of correcting the corrosive influence of corporate money in our elections.
By creating these disclosure requirements, Congress would not only be protecting investors, it would also further the interests of all Americans in the process.
The dear colleague from Rep. Meng is re-produced below. If you choose to join in this request for full transparency, please contact Michael Fleischman at Michael.Fleischman@mail.house.gov.
U.S. Public Interest Research Group, The League of Conservation Voters, Green Century Capital Management, Domini Social Investments, Citizens for Responsibility and Ethics in Washington, Common Cause, CREDO, Public Campaign, Public Citizen, The Reform Project, The Sunlight Foundation
Do Not Let Corporations Hide Political Spending From Shareholders
I urge you to support the Corporate Politics Transparency Act, which would require publicly-traded corporations to notify shareholders of expenditures made in excess of $10,000 in support of or in opposition to any candidate for Federal, State, or local public office. Secret campaign spending has reached unprecedented levels, and more money than ever is being spent on all manner of negative and deceitful advertising. Many Americans are shareholders - and all are stakeholders - in our biggest corporations. It is time to ask for greater transparency.
The Citizens United decision has provided corporations with greater opportunities to engage in political campaigns, and to do so in the shadows. If corporations are going to spend corporate funds to influence elections, their shareholders have a right to know.
For more information or to become an original cosponsor, please contact Michael Fleischman at (Michael.Fleischman@mail.house.gov or 5-2603).
Member of Congress