Big companies pause their political contributions. – The New York Times

Big businesses often donate to both political parties and say their support is tied to narrow issues of specific interest to their industries. That practice became increasingly fraught last week, after a pro-Trump mob stormed the Capitol and some Republican lawmakers tried to overturn Joseph R. Biden Jr.’s win in the presidential election. A flurry…

US: Systematically Hollowing Out Democracy – The Globalist

The 2020 election cost upwards of $14 billion, according to the Center for Responsive Politics, making it not only the most expensive election in history — but twice as expensive as the previous 2016 presidential election cycle. The vast amount of money raised by campaign contributions ultimately is the most telling evidence for the cash-driven…

Dark Money: It’s Time for Boards and Institutional Investors to Act on Racial Justice

Bruce Freed of The Center for Political Accountability and Eleanor Bloxham of The Value Alliance have an important op-ed in Barron’s about the long-standing opposition of the Big 3 institutional investors – BlackRock, Vanguard and Fidelity — to shareholder resolutions calling for disclosure of political disclosure and the connection to corporate political spending that has…

Campaign contributions pay off for Ohio utilities and coal interests

Utility, nuclear and coal interests are big players in Ohio politics, giving about $3 million to Ohio political campaigns in 2018, according to data from the National Institute on Money in Politics. The industry interests have long been active politically. But just as competitive markets began coming into their own around 2010, the pattern of…

Citizens United 10 Years Later: Ciara Torres-Spelliscy

Professor Ciara Torres-Spelliscy testified about what we have learned about the impact of the Citizens United Decision after ten years. The full testimony, including disturbing information about the vicious cycle caused by more dark money raising the cost of campaigns, thus needing more dark money is below. An excerpt: Nearly a decade ago, I told…

Hospital Groups Sue to Block Price-Transparency Rule – WSJ

Corporations continue to try to pretend they deserve the same Constitutional rights as individuals, here arguing that the kind of disclosure requirements the government has successfully imposed for decades to make sure consumers get the information they need to make informed choices violate the First Amendment freedom of speech. The courts recognized that commercial speech…

How FedEx Cut Its Tax Bill to $0 – The New York Times

In the 2017 fiscal year, FedEx owed more than $1.5 billion in taxes. The next year, it owed nothing. What changed was the Trump administration’s tax cut — for which the company had lobbied hard. The public face of its lobbying effort, which included a tax proposal of its own, was FedEx’s founder and chief…