(The Center Square) – Michigan Democrat U.S. Sen. Elissa Slotkin joined other Democrats in reintroducing the Ban Corporate PAC Act, which would restrict campaign finance monies.
The Michigan senator, who is serving her first term, has called for an end to influence from political action committees in America’s electoral system.
“Today, I’m one of just six U.S. senators who has never taken these big corporate PAC checks,” Slotkin said. “That number should be 100 out of 100. Americans know that our campaign finance system is broken. If we want to regain the trust of Americans on the left, right and center, it’s a no brainer: start by banning corporate PAC donations to anyone running for office.”
Under current law, corporate PACs can give a candidate directly up to $5,000 per election. In most elections which have a primary and a general election, that means $10,000 is the max amount a PAC can give a candidate per cycle.
Outside of that spending though, corporate PACs can still make unlimited independent expenditures on ads, mailers and more.
The bill looks to end corporate influence by prohibiting for-profit corporations from establishing or operating separate segregated funds (corporate PACs) to influence political campaigns and federal elections.
“Once you take money from a corporation, there’s sort of an inherent transactional relationship there,” Slotkin said. “They get into your office. They can come talk to you about bills. They know that they have access to you.”
The bill would also require that existing corporate PACs be terminated and funds be fully disbursed within a year.
So far, only Democrats have joined in sponsoring the bill. Those include Sens. Andy Kim, D-NJ, Elizabeth Warren, D-MA, and Representatives Jared Golden, D-ME, and Josh Harder, D-CA. Senator Mark Kelly, D-AZ, is another sponsor and has led the charge on this issue.
“Corporate money has way too much control over what happens in Washington, and that’s not how it should work,” Kelly said. “The Ban Corporate PACs Act would put an end to this system and help restore the voice of Americans in Washington.”
Kelly introduced this bill in numerous past legislative sessions, starting in 2022. In previous years, each time the bill has died in committee.
Interest groups have urged Congress to take up the bill this time.
“All Americans deserve to have their voices heard and votes counted, even if they can’t hire a lobbyist or start a Super PAC,” said Virginia Canter, anticorruption and ethics chief counsel and director at Democracy Defenders Action. “The Ban Corporate PACs Act will help stop big money in politics and corporate special interests from continuing to use their megaphone to drown out the voices of everyday Americans.”
Currently, the bill is waiting to be taken up by the Senate Committee on Rules and Administration.
