Thursday
Feb042010
New Bill Would Require CEOs To Identify Themselves In Corporate Funded Campaign Ads
Thursday, February 4, 2010 at 5:16PM
The same provision requiring candidates to state their approval of campaign ads may soon be applied to CEOs as well.
The requirement would be part of legislation introduced by Sen. Sherrod Brown (D-Ohio) aimed at countering the Supreme Court's landmark decision in Citizens United v. Federal Election Commission, which granted corporations permission to openly fund campaign ads.
"Corporate CEOs should face the camera and tell the public they sponsored the commercial," said Brown during a conference call with reporters Thursday. "If a corporation uses a front group ... then the funder of that association has to be on."
If passed, the bill will also require the consent of shareholders prior to an ad's production and prevent foreign companies or government from channeling money for campaign spots.
Although the Court's 5-4 decision also allows unions to fund ads, Brown contends that this is not as pressing of a concern.
"I don't think its the same problem," Brown said. "Corporations in this country combined have sales of $10 trillion. Total union dues amount to $6 billion."
Added Brown, "that's a difference between the span of my hand and the height of the Empire State Building."
The requirement would be part of legislation introduced by Sen. Sherrod Brown (D-Ohio) aimed at countering the Supreme Court's landmark decision in Citizens United v. Federal Election Commission, which granted corporations permission to openly fund campaign ads.
"Corporate CEOs should face the camera and tell the public they sponsored the commercial," said Brown during a conference call with reporters Thursday. "If a corporation uses a front group ... then the funder of that association has to be on."
If passed, the bill will also require the consent of shareholders prior to an ad's production and prevent foreign companies or government from channeling money for campaign spots.
Although the Court's 5-4 decision also allows unions to fund ads, Brown contends that this is not as pressing of a concern.
"I don't think its the same problem," Brown said. "Corporations in this country combined have sales of $10 trillion. Total union dues amount to $6 billion."
Added Brown, "that's a difference between the span of my hand and the height of the Empire State Building."
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