Levin Proposal Would Allow SEC to Finalize Rule on Disclosure of Corporate Political Spending
Feb. 13, 2019
Levin Proposal Would Allow SEC to Finalize Rule on Disclosure of Corporate Political Spending
Statement of Lisa Gilbert, Vice President of Legislative Affairs, Public Citizen
Note: U.S. Rep. Andy Levin (D-Mich.) today introduced legislation that would repeal an appropriations rider that is blocking the U.S. Securities and Exchange Commission (SEC) from finalizing a critical transparency rule. The rule would require publicly held corporations to disclose their political spending.
For years, conservatives in Congress have misused the appropriations process to hide anti-transparency favors for their corporate donors. Rep. Levin’s critical legislation would take aim at this harmful habit and untie the hands of the SEC so that it can move forward with finalizing a crucial rule requiring corporations to disclose their political spending.
Requiring public corporations to be honest with their shareholders, customers and the public about any political donations they make is necessary for taking our democracy back from the hands of wealthy special interests.