The House is debating the bill right now… exercise your rights as a citizen in real time!
Watch live, and email your congressman with the form letter below:
YOUR PHONE NUMBER
Dear Congressman ________,
I live in your district and support H.R. 4790, The Shareholder
Protection Act of 2010. The recent Supreme Court ruling in the
“Citizens United” case protects corporations as an association of
individual citizens with rights to participate in the political
process. By that same token, this association of citizens, i.e.
corporate shareholders, has the right to determine how their
corporation participates, and that means voting to determine how
corporate money is spent or donated.
Under the law, corporate shareholders already have oversight over
numerous corporate decisions, and there is no question political
activity should be among them. This bill presents an opportunity to
ensure a degree of transparency our electoral process desperately
In the interest of fair elections, please support H.R. 4790.
Members of the House Financial Service Committee are:
Gregory Meeks (D NY 6):
Staffer: Milan Dalal
Nydia Velazquez (D, NY 12)
Staffer: Ms. Aixa Aleman-Diaz
This is a bill that requires corporations to let shareholders vote on political spending… read this article for more info – but here’s a summary quote:
The courts have held that one of those rights is to spend unlimited amounts of one’s own money on politics. One of the problems with granting this right to corporations is that CEOs now can spend unlimited amounts of other people’s money in politics — money from shareholders, who may or may not like the candidates and causes favored by the CEOs.
The Shareholder Protection Act will not solve all the problems of unlimited corporate political spending, but it will help bring openness and accountability into corporate finances — and reduce corporate managers’ ability to use shareholders’ money for their own political purposes. We also need a strong public financing system to provide candidates with the resources necessary to respond to the expected corporate onslaught and, ultimately, a constitutional amendment ensuring that the First Amendment cannot be abused to permit corporations to overwhelm elections and corrupt our government.
But right now, let’s bring integrity back into corporate governance. A corporation should not just be a CEO’s playground. Responsible corporate governance needs the involvement of informed shareholders, holding management accountable and ensuring that spending decisions are made in pursuit of sound business.