CHECK THIS OUT, THIS LAW COULD STOP CORP. SPENDING ON ELECTIONS IN ITS TRACKS--This fall, Senate Republicans blocked an attempt to pass a constitutional amendment to overturn the Citizens decision. In the face of this federal inaction, Maryland could pass an exemplary bill next year that would make a real difference. This January, State Senator Jamie Raskin will introduce the Shareholders United Act, legislation that would require corporations to post all political contributions on their websites within 48 hours and would forbid corporations from spending on political campaigns and candidates unless they are able to prove that the contribution reflects the “majority will” of their shareholders. Crucially, if the majority of the corporation’s shares are held by institutional investors that cannot take political positions — this includes pension and retirement funds, insurance companies, universities and nonprofits — that corporation would be forbidden from donating to political campaigns.
Posted on: Sat, 25 Oct 2014 18:09:03 +0000
Trending Topics
Recently Viewed Topics
© 2015