In Wake of GOP Committee Vote Against Campaign Finance Reform, Squadron Pushes Bill Forward with Petition for Chamber Consideration
Squadron-Lancman Legislation Would Make NY National Leader in Fight Against Citizens United
ALBANY – Today, State Senator Daniel Squadron and Assemblyman Rory Lancman pushed back against Senate Republican efforts to stall their campaign finance reform legislation, with Senator Squadron initiating a petition for chamber consideration to move the bill forward. The legislation would make New York a national leader in the fight against the 2010 Citizens United Supreme Court decision and give people, rather than corporations, a stronger voice in the political process.
The "Corporate Political Activity Accountability to Shareholders Act" (S101/A696A) would require shareholder approval for corporate political contributions, public disclosure of the contributions, and justification of the business rationale for making them.
This afternoon, the Corporations, Authorities, and Commissions Committee voted to prevent the legislation from moving out of committee. Senator Squadron has now begun circulating a petition for chamber consideration of the bill, which would bring the bill to the Senate floor if 38 signatures are collected from Senators.
“As we look on in horror at the impact of Citizens United, New York has an opportunity to actually do something about it. Yet today, the Senate Republicans chose corporate interests over the interests of real people,” said Senator Squadron. “Make no mistake: unlimited corporate contributions are a threat to our democratic process. By reining in unchecked political influence and bringing desperately-needed transparency to the process, our bill would be a key step toward countering the flood of corporate influence that washes away the voice of regular people. I urge my colleagues to stand up for people over corporations in our politics and join the effort to move this bill to the floor."
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