U.S. Senator Jon Ossoff recently introduced legislation to get corporate PAC money out of political campaigns.
He and Senator Mark Kelly (D-AZ) introduced the Ban Corporate PACs Act, which would reduce corporate influence in Washington by prohibiting for-profit corporations from influencing political campaigns and federal elections.
Ossoff refused contributions from corporate PACs during his U.S. Senate campaign and vowed to introduce legislation to abolish them altogether when he was running for office.
The Ban Corporate PACs Act would:
- Eliminate the ability of for-profit corporations to establish and manage a PAC.
- Eliminate the ability of for-profit corporations or PACs to solicit contributions from corporate stockholders.
- Require that existing corporate PACs that will no longer be allowed under this Act be terminated and funds be fully disbursed within 1 year after enactment of the Act.
PACs altogether — as I said I would when I ran for the Senate,” said Sen. Ossoff in a press release.
“Senators Mark Kelly and Jon Ossoff continue to be leaders in the fight to end the corrupting influence of corporate money in politics,” said End Citizens United // Let America Vote Action Fund President Tiffany Muller. “This bill will be a critical step in ensuring that our government works for the people, not Washington special interests and big donors. From skyrocketing prescription drug prices to tax breaks benefitting only the wealthy and big corporations, Americans see the corrupt broken system we currently have and the need for change. We’re grateful to Senators Kelly and Ossoff for introducing this important piece of legislation and look forward to passing it into law.”
This follows Sens. Ossoff and Kelly’s recent introduction of their bill prohibiting members of Congress, their spouses, and dependent family members from buying and selling stocks while the member holds office.