Like Countable?

Install the App
TRY NOW

house Bill H.R. 5670

Should Corporations Disclose Their Political Contributions to Shareholders?

Argument in favor

Corporations have an outsize influence when it comes to political spending, and many don’t disclose their political expenditures to their shareholders. This bill protects shareholders by ensuring they’re aware of how politically active companies they’ve invested in are.

burrkitty's Opinion
···
05/20/2018
If you own shares in a company, you have a right to know how the money gets spent. That’s what a shareholder IS. It should be a no brainer. The company should be obligated tell you what they support. Then Vote with your wallet. (Although it would be better to overturn Citizens United.)
Like (154)
Follow
Share
operaman's Opinion
···
05/20/2018
The said political contribution should only be made through the CEO’s personal income account. The shareholder shouldn't be burdened with sharing their earned dividend to support the CEO’s political inclinations. Political contributions should not be a deductible expense on the income statement. Like Socialists and politicians, CEO’s love to give away other people's money for personal adulation and attending celebrity cocktail parties.
Like (84)
Follow
Share
Jennifer 's Opinion
···
05/20/2018
I have somewhat mixed emotions on this, but if I read it correctly, Congress has written the requirements to prevent this reporting. Does this sound like Congress protecting their cash cow to anyone else? I’m for getting $$/influence out of politics, but enough of a realist to know...it probably ain’t gonna’ happen!
Like (53)
Follow
Share

Argument opposed

The Federal Election Commission (FEC) already requires that companies file reports with it when they spend their own money advocating for the election or defeat of a candidate — if shareholders want to see companies’ political spending they can view those reports.

ManfromNebraska's Opinion
···
05/20/2018
If it is already available than no I don’t think they need to give that directly to shareholders. They can look it up for themselves.
Like (21)
Follow
Share
Nick-Papagiorgio's Opinion
···
05/20/2018
Any reasonable American paying any attention to politics whatsoever knows that every vote from every representative is payed for. That is the American system. I would rather we change that than require paper work.
Like (2)
Follow
Share
Brent's Opinion
···
05/20/2018
Should journalists have to disclose their donations as well? No.
Like (2)
Follow
Share

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Committee on Financial Services
    IntroducedMay 1st, 2018

What is House Bill H.R. 5670?

This bill would direct the Securities and Exchange Commission (SEC) to issue regulations to require public corporations to disclose political expenditures. Under current law such disclosures to shareholders are voluntary, although corporations must abide by Federal Elections Commission reporting rules.

Impact

Public corporations; political campaigns; and the Securities and Exchange Commission.

Cost of House Bill H.R. 5670

A CBO cost estimate is unavailable.

More Information

In-DepthSponsoring Rep. Salud Carbajal (D-CA) introduced this bill to require publicly-traded corporations to disclose their political expenditures to shareholders:

“The Citizens United decision unfortunately opened the door for large corporations, even foreign-controlled ones, to spend unlimited amounts of money on influencing American elections… Unfortunately, Congress has recently prevented the SEC from requiring political disclosures for corporations and that must change. The public has a right to know how powerful, multinational corporations are spending money to influence our political process.”

Of NoteIn recent spending bills, Congress has included language to prevent the SEC from implementing new reporting requirements regarding the disclosure of political contributions. This bill would overturn this restriction.


Media:

Summary by Lorelei Yang

(Photo Credit: Juanmonino / iStock)

AKA

Corporate Political Disclosure Act of 2018

Official Title

To amend the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission to issue regulations to require public corporations to disclose political expenditures, and for other purposes.

    If you own shares in a company, you have a right to know how the money gets spent. That’s what a shareholder IS. It should be a no brainer. The company should be obligated tell you what they support. Then Vote with your wallet. (Although it would be better to overturn Citizens United.)
    Like (154)
    Follow
    Share
    If it is already available than no I don’t think they need to give that directly to shareholders. They can look it up for themselves.
    Like (21)
    Follow
    Share
    The said political contribution should only be made through the CEO’s personal income account. The shareholder shouldn't be burdened with sharing their earned dividend to support the CEO’s political inclinations. Political contributions should not be a deductible expense on the income statement. Like Socialists and politicians, CEO’s love to give away other people's money for personal adulation and attending celebrity cocktail parties.
    Like (84)
    Follow
    Share
    I have somewhat mixed emotions on this, but if I read it correctly, Congress has written the requirements to prevent this reporting. Does this sound like Congress protecting their cash cow to anyone else? I’m for getting $$/influence out of politics, but enough of a realist to know...it probably ain’t gonna’ happen!
    Like (53)
    Follow
    Share
    Yes. Until Citizen's United is overturned the public needs visibility into corporate election spending. Corporations are not people and money is not speech.
    Like (52)
    Follow
    Share
    Investors should know where funds go. Also investment companies should not be sending money to political candidates or bills to begin with. All monies should go back to investors.
    Like (35)
    Follow
    Share
    Yes! When corporations have such a giant influence in politics and therefore society at-large, shareholders should be provided with information on their political spending. However, eventually we need to get private money out of politics and have public financing of elections so that our electoral system can work properly again!
    Like (31)
    Follow
    Share
    A corporation cannot vote. Therefore, a corporation should be barred from contributing to a political campaign or party. Our government has become a voice of the lobbyists and special interest groups. Shame on those representatives, administrations, and the judicial system who allowed this to happen. It is time the constituents took back control. It begins with our vote. Our Vote = Our Government.
    Like (30)
    Follow
    Share
    Doesn’t go far enough. As a consumer and a maker of actual things. I contribute more to the success of an enterprise then some investors. I want to know how much of my money is being use to buy favors from corrupt politicians. I already do my best to vote with my dollars. This information would be helpful to me.
    Like (19)
    Follow
    Share
    Absolutely, shareholders may not want their money supporting a xenophobic, bigoted narcissist who committed treason. It’s bad business.
    Like (16)
    Follow
    Share
    GOPIN2016 Of Course they should and by all means, won’t release what their political contributions, Democratic or Republican will be......
    Like (14)
    Follow
    Share
    Yes I feel transparency is important.
    Like (13)
    Follow
    Share
    Yes absolutely. This is a no-brainer. I want to know where those dollars are going. I refuse to invest in or do business with corporations that work against my interests and or the interests of my friends and family.
    Like (13)
    Follow
    Share
    It would be better if businesses and corporations were barred from advertising or funding politics. They are not people, they are not supposed to be subject to free speech protections nor to buying more influence than the rest of us.
    Like (12)
    Follow
    Share
    Transparency. Any person, organization, entity should disclose any and all information involving financial or political transactions, even if the political transaction does not involve money. The public should also know what political involvement a corporation, public or private, conducts or supports. Anything that involves The People’s Government should be disclosed to the public in a simple, easy to understand and easily available to the public.
    Like (10)
    Follow
    Share
    If corporations can influence elections, everybody, not just their shareholders, should be told of corporation’s efforts/money.
    Like (10)
    Follow
    Share
    Consumers should always have the ability to “vote with their money”. This allows individuals even more chances to participate in the democratic process. It’s a good idea for democracy and for the companies involved. As they would have another avenue to interact with the customers and compete with rivals.
    Like (7)
    Follow
    Share
    I think that Americans need more ability to vote with their wallets. Knowing the political leanings of businesses that we support will help.
    Like (5)
    Follow
    Share
    Absolutely. Stockholders deserve to know the real corporation before they invest in it. However, the stock market itself is an immoral construct. It is insane to buy stock in a company one time and expect to make revenue off it for the rest of your life! This practice forces businesses to constantly cut services, employees and benefits, and charge more for what’s left because shareholders demand a profit every quarter. They have done no work, offered no support and yet they want to be paid for the rest of their lives!
    Like (5)
    Follow
    Share
    YES! SHOULD BE A FEDERAL LAW
    Like (5)
    Follow
    Share
    MORE