Empowering People Over Corporations
In 2010, the Supreme Court gave birth to today's now-infamous Citizens United decision, allowing unlimited corporate political spending. The damage is clear: Super PACs have already spent over $68 million this election cycle, creating a flood of unaccountable corporate dollars that wash out the voice of real people.
Make no mistake: these unlimited corporate contributions are a threat to our democratic process. We must empower people - rather than corporations - in our politics.
On Monday, New York can become a national leader in pushing back against the outsize voice for corporations created by Citizens United when legislation I carry comes to a Senate committee vote in the Corporations Committee.
The "Corporate Political Activity Accountability to Shareholders Act," which I sponsor with Assemblymember Rory Lancman, would require shareholder approval for corporate political contributions, public disclosure of the contributions, and justification of the corporate purpose for making them. The bill will rein in unchecked political influence and bring desperately-needed transparency to the process.