Don't let corporations hide their political spending
  • Petitioned SEC

This petition was delivered to:

SEC

Don't let corporations hide their political spending

    1. Sponsored by

      <span>CREDO Action</span>

The U.S. Supreme Court's disastrous Citizens United v. FEC ruling has allowed corporate CEOs to unleash a torrent of secret corporate spending into our political system.

Indefensibly, CEOs are able to keep both the public and their own shareholders in the dark about the use of company funds for political ends.

This give CEOs free rein to make political expenditures that they would never be able to justify publicly -- including campaigns so toxic they would inevitably tarnish the company's brand were the funding source made public.

And the results have been absolutely corrosive to our democracy.

The Securities and Exchange Commission (SEC), which is a federal agency, can require publicly traded companies to disclose the money they spend on politics. And they are accepting public comments on the merits of doing so.

Submit a public comment and tell the SEC: Don't let corporations hide their political spending.

To be clear, what we really need is to get all corporate money out of politics, to roll back Citizens United, end corporate personhood and institute public financing of elections. And we are working hard toward those long term goals.

But in the short term, given how corrupt the system is, disclosure of corporate political spending would be a meaningful, though small, step forward. And it's one we can achieve.

While the likes of the Wall Street Journal's Editorial Board are opposed to this idea, it's actually a commonsense idea that is not especially ideological.

In fact, nearly 60% of the S&P 100 companies already voluntarily disclose their political spending to investors. And of the remaining S&P 100 corporations, 50 had shareholder votes about political issues in 2011.

Already one SEC Commissioner has come out in favor of the idea. We just need two more to agree.

Tell the SEC: Don't let corporations hide their political spending.

By submitting this form, your name, address and comments will be filed with a public agency and become public record.

To:
SEC
I am writing to urge the SEC 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,
[Your name]

Recent signatures

    News

    1. Reached 35,000 signatures

    Supporters

    Reasons for signing

    • Gabriel Ramirez SAN JUAN, UNITED STATES
      • over 1 year ago

      Tell the SEC: Don't let corporations hide their political spending. The U.S. Supreme Court's disastrous Citizens United v. FEC ruling has allowed corporate CEOs to unleash a torrent of secret corporate spending into our political system.

      REPORT THIS COMMENT:
    • Deborah Kennedy SAN JOSE, CA
      • over 1 year ago

      Transparency is key to a healthy democracy. Stop this insidious erosion of our democracy.

      REPORT THIS COMMENT:
    • Jake Barnes HICKSVILE, NY
      • over 1 year ago

      Corporations are controlling the general public and must be stopped.

      REPORT THIS COMMENT:
    • Erik B. Midelfort MADISON, WI
      • over 1 year ago

      2) We need to get money out of politics. You should not be able to buy elections, or laws, or influence in our democracy. Saying money is a form of free speech only gives an unfair, unjust, and disproportionate voice to the wealthy. Further more if corporations are considered people, those people making up the corporation should not be able to in effect exercise their voice twice. Once under the umbrella of the corporation, and a second time as an individual. There is no reason corporations need a voice in our democracy. The individual’s making up the corporation are already fully capable of exercising their rights and voicing their views as individuals.

      REPORT THIS COMMENT:
    • John McCarthy WESTMONT, IL
      • almost 2 years ago

      Let it be know that A.T.&T. is the biggest corporate donor to the Tea Party.

      REPORT THIS COMMENT:

    Develop your own tools to win.

    Use the Change.org API to develop your own organizing tools. Find out how to get started.