When it comes to political and lobbying spending, it’s a mixed-up, muddled-up, shook-up world, to quote the Kinks’ Ray Davies. Leftist organizations such as the Center for Political Accountability, the Interfaith Center for Corporate Responsibility, and As You Sow seemingly check the closets and under the beds each night to ensure corporations aren’t exercising their First Amendment rights to freely engage in the political process. These shareholder activist groups work together and individually to stifle corporate speech by submitting proxy resolutions to companies in which they invest. These resolutions request companies to publicly divulge spending on lobbying and political campaigns as well as corporate contributions to such nonprofit advocacy groups as the U.S. Chamber of Commerce.
But when it comes to progressive billionaires contributing to liberal causes and candidates, CPA, AYS and ICCR are conspicuously silent. What’s the deal?
As noted by CPA’s Bruce Freed on the AYS website:
‘Dark money’ spending by third-party political organizations poses an even more serious risk to companies as they face growing pressures to contribute. To address the threat, the Center for Political Accountability (CPA) and its shareholder partners will be filing resolutions at more than 50 companies in the 11th year of CPA’s advocacy and engagement effort. (more…)