Last year’s controversial Supreme Court decision in Citizens United vs. Federal Election Commission legalized unlimited corporate and union spending on political advertisements, but it also strongly endorsed full disclosure of this spending.
In April, Politico reported that a draft executive order is circulating that would require all companies seeking government contracts to publicly disclose their political contributions. A number of advocacy organizations — including Public Citizen, Common Cause, and Democracy 21 — have weighed in supporting the order. But the U.S. Chamber of Commerce and others have strongly opposed it, claiming it would stifle speech.
We felt that an investor voice needed to be heard. On May 10, Domini sent a letter to the President on behalf of investors managing more than $130 billion, strongly endorsing the draft order. Our letter was quoted by Representative Cummings, and entered into the Congressional Record, at a recent congressional hearing challenging the order.
View the hearing (our letter is referenced at 11:45).
Coverage of our letter at OMB Watch.