Today marks the unfortunate two-year anniversary of the Supreme Court's Citizens United ruling that opened the floodgates for undisclosed spending in our elections. In just two years, we are already all too familiar with how this landmark ruling has transformed campaigns and elections in this country, threatening the fabric of our democracy.
Wealthy interests are on the verge of buying the Oval Office right out from under our noses thanks to the unlimited amounts of secret cash they are now allowed to funnel into elections. The 2010 midterm elections provided the first glimpse of the potential impact of this ruling, and this year's presidential election could set new records for hidden corporate spending. Already, a reported $27 million has been spent by super PACs in support of the various Republican presidential candidates with only the presidential caucus in Iowa and primary election in New Hampshire completed.
This is a war we need to fight on every front, from city pension funds to the floor of Congress. Right now, there's an opportunity to use the power of the Securities and Exchange Commission, which regulates publicly traded companies, to force disclosure of corporate political spending. This reform cannot wait -- we need it now. As New York City Public Advocate, I have launched a campaign that I urge you to take part in so together we can tell the SEC to flex its muscles and quickly take steps that mandate disclosure of political spending by publicly traded companies.
Here in New York, members of the City Council Progressive Caucus, Common Cause, Citizen Action, and Make the Road have joined me in saying enough is enough, and I hope you will too.
We have set a goal to send more than 1,000 signatures on this unhappy anniversary to the SEC with a clear message to stop secret political spending now!
HELP SAVE OUR ELECTIONS
I am fed-up with these shadowy Super PACs and angry that wealthy interests have the have the power to secretly weigh in on our elections. On this unhappy anniversary I am joining with my fellow citizens to support the petition before the SEC requiring public companies to disclose to shareholders and the public the use of corporate resources for political activities. I want to take back our democracy and restore public faith in our elections.
Sign the Petition to End to Secret Corporate Political Spending
** Please note your address is not required information to sign this letter & will not be published.
Follow Bill de Blasio on Twitter: www.twitter.com/billdeblasio