May 14 2012
The City Council passed Resolution 31380 this afternoon to regulate corporate political spending. As you may recall, in 2010, the U.S. Supreme Court ruled that corporate entities have the same rights as individuals to unrestricted spending on political speech. As a result, unlimited corporate spending joined individual big donors to influence campaigns, elections, and lawmaking. Independent Expenditures jumped to $294.2 million in the 2010 election cycle from just $68.9 million in the 2006 cycle. This is no way to run a democracy. All campaign donations should be subject to public disclosure and full transparency. In a January 2012 poll, only 54% of registered voters are aware of this problem. This is about the character of our country and it started with the good hearts and minds of more than 50 people who testified at Full Council this afternoon.