Congressman Bill Foster (D-IL) recently announced the reintroduction of the Shareholder Political Transparency Act. This legislation would amend the Securities Exchange Act of 1934 to require publicly traded companies to make quarterly disclosures to their shareholders detailing the types and amounts of political spending they engage in, ensuring greater transparency for investors and the public.
“Political contributions from publicly held companies should not be a secret, especially to people who invest their hard-earned money in them,” said Foster. ”This legislation is a commonsense measure that would provide investors with all the facts necessary to make informed decisions about where to put their money.”
The Shareholder Political Transparency Act is cosponsored by Reps. Nydia Velázquez (D-NY), Joyce Beatty (D-OH), Sean Casten (D-IL), Chuy García (D-IL), Jan Schakowsky (D-IL), and Jim Himes (D-CT).
— Office of congressman Bill Foster