Kelly, Slotkin, Harder Reintroduce Ban Corporate PACs Act to End Corporate Influence in Politics
Today, Senators Mark Kelly (D-AZ) and Elissa Slotkin (D-MI), along with Representative Josh Harder (D-CA-09), reintroduced the Ban Corporate PACs Act to reduce the influence of corporate money in politics and government by prohibiting for-profit corporations from funding political campaigns and influencing elections. The bill has growing support in the Senate and the House and is cosponsored by Senators Andy Kim (D-NJ), Elizabeth Warren (D-MA), and Representative Jared Golden (D-ME-02).
Corporate PACs are often used to funnel money into political campaigns to benefit corporate interests. These PACs are established and funded by corporations, which can then solicit donations from employees and stockholders and contribute thousands of dollars to candidates at higher limits than individuals. The Ban Corporate PACs Act would put an end to this system and help restore the voice of regular people over big corporations in Washington.
“Corporate money has way too much control over what happens in Washington, and that’s not how it should work. When representatives are making decisions that affect working families, whether it’s lowering costs or protecting workers’ rights, they should be accountable to you, not the corporations writing big checks,” said Sen. Kelly. “The Ban Corporate PACs Act would put an end to this system and help restore the voice of Americans in Washington.”
“From my very first campaign, I’ve refused to take corporate PAC money. I made that call, against the advice of every political insider I met, because I never wanted Michiganders to question why I was casting a vote,” said Sen. Slotkin. “Today, I’m one of just six U.S. Senators who has never taken these big corporate PAC checks. That number should be 100 out of 100. Americans know that our campaign finance system is broken. If we want to regain the trust of Americans on the left, right and center, it’s a no brainer: start by banning corporate PAC donations to anyone running for office.”
“Our politics is broken. We can’t expect people to have faith in a political system that allows corporate interests to drown out the voices of working Americans. This bill is a straightforward and critical step to get big money out of our elections and make absolutely clear that government is accountable to the people,” said Sen. Kim.
“Washington has been broken for years because it’s rigged to work for big corporations instead of working families,” said Rep. Harder. “Cleaning up Washington starts with cutting big money out of politics. The Ban Corporate PACs Act is a critical step to making sure our government is working for the people who actually matter, our families.”
“While working Americans are struggling with the skyrocketing cost of groceries, housing, and health care, corporations are using their PACs to buy more political power and protect the status quo. That’s why we have a tax code rigged to benefit billion-dollar companies and a government that only serves its donors instead of the people,” said End Citizens United Action Fund President Tiffany Muller. “The Ban Corporate PACs Act is a commonsense solution to eliminate the pay-to-play relationship between our elected officials and corporate special interests. We thank Senator Kelly for his continued leadership in breaking this cycle of corruption.”
“With cash coming in from big pharma, tech, oil, and Wall Street, giant corporations have too much influence over Washington. The Ban Corporate PACs Act would go a long way to ensure members of Congress work for the people, not corporate profiteers,” said Accountable.US.
“All Americans deserve to have their voices heard and votes counted, even if they can’t hire a lobbyist or start a Super PAC,” said Virginia Canter, Anticorruption and Ethics Chief Counsel and Director at Democracy Defenders Action. “The Ban Corporate PACs Act will help stop big money in politics and corporate special interests from continuing to use their megaphone to drown out the voices of everyday Americans, and it will give nurses, teachers, and other hard-working Americans a bigger voice in government. We thank Senator Kelly for his leadership in introducing the Ban Corporate PACs Act, and we urge Congress to take up this important legislation.”
The Ban Corporate PACs Act would:
- Eliminate the ability of for-profit corporations to establish and manage a PAC.
- Eliminate the ability of for-profit corporations or PACs to solicit contributions from corporate stockholders.
- Require that existing corporate PACs that will no longer be allowed under this Act be terminated and funds be fully disbursed within 1 year after enactment of the Act.
The reintroduction of the Ban Corporate PACs Act follows Kelly’s recent reintroduction of his Ban Congressional Stock Trading Act which prohibits members of Congress, their spouses, and dependent family members from buying and selling stocks while the member holds office.
Kelly is the only member of Congress to take the following three transparency and accountability steps: place his assets in Qualified Blind Trusts, release his official Senate schedule, and not take Corporate PAC contributions to his campaign.
Click here to read the Ban Corporate PACs Act.
