Foster Introduces Legislation to Bolster Political Spending Transparency for Investors

Washington, DC – Today, Congressman Bill Foster (D-IL) reintroduced the Shareholder Political Transparency Act to shed light on corporate political spending by public companies and increase transparency to investors and the public. The bill would mandate public companies periodically share political spending information with their shareholders. 

The legislation would amend the Securities Exchange Act of 1934 to require public companies to make quarterly disclosures to their shareholders to provide them with descriptions of the kinds and amounts of political spending that they engage in. 

"Political contributions from publicly held companies should not be a secret, especially to people who invest their hard-earned money in them,” said Congressman 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. Dean Phillips (D-MN), Jan Schakowsky (D-IL), Jamie Raskin (D-MD), Grace Meng (D-NY), Jason Crow (D-CO), and Eleanor Holmes Norton (D-DC). 

A copy of the legislation is available here. 

###