Tell Your Members of Congress to Cosponsor the Shareholder Protection Act
Newly emboldened by the U.S. Supreme Court’s disastrous ruling in Citizens United v. Federal Election Commission, corporate CEOs will be spending unprecedented millions to influence elections in 2012.
If you or someone you know has a 401(k), a similar retirement account or other investments, the corporations funded by these investments could be part of the problem.
The Shareholder Protection Act proposed by Rep. Michael Capuano (D-Mass.) would empower shareholders to vote on whether to allow corporate executives to spend corporate money on political campaigns. Shareholders — not the CEO and not the board of directors — are the real owners of any publicly traded corporation, and the decision should be theirs.
Don’t let your family’s nest egg be used to promote the corporate agenda. If a majority of shareholders tell a corporation to stay out of politics, then the corporation should do exactly that.
Anyone with a 401(k) invested in stocks or mutual funds — nearly half of all households today — has a stake in how the corporate money in those funds is spent. Passage of the Shareholder Protection Act would help the public hold corporations accountable for their political behavior.
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