September 29, 2016

Wyden Votes ‘No’ on Bill That Hides Corporate Campaign Spending

Political Rider Attached to Government Funding Bill Keeps Americans in the Dark About Public Corporations’ Campaign Spending

Washington, D.C. – U.S. Sen. Ron Wyden, D-Ore., voted against a government funding bill today, over a provision that keeps Americans in the dark about campaign spending by public companies.

The provision prevents the Securities and Exchange Commission (SEC) from developing, proposing, issuing, finalizing, or implementing a rule requiring public companies to disclose political spending to their own shareholders. It was the only political amendment, or “rider,” attached to the spending bill.

“Today, corporations can spend fortunes to flood the airwaves in support of their handpicked candidates and issues, all under the cover of darkness,” Wyden said. “Americans are fed up with dark money dominating our elections and the least we can do about it is require public companies to give an accounting to their own shareholders about how much they’re spending on campaigns.”

Wyden, along with 40 other senators, wrote to Senate Majority Leader Mitch McConnell last week, urging him not to include this harmful political rider as part of the spending bill.