January 21, 2022 •
Ban Corporate PACs Act Introduced in U.S. Senate
US Capitol - by Martin Falbisoner via Wikimedia Commons
On January 20, U.S. Sen. Mark Kelly introduced the Ban Corporate PACs Act. The legislation, Senate Bill 3528, amends the Federal Election Campaign Act of 1971 to eliminate the ability of for-profit corporations to establish and manage separate segregated funds […]
On January 20, U.S. Sen. Mark Kelly introduced the Ban Corporate PACs Act.
The legislation, Senate Bill 3528, amends the Federal Election Campaign Act of 1971 to eliminate the ability of for-profit corporations to establish and manage separate segregated funds (i.e., PACs) or solicit contributions from corporate stockholders. It also requires existing corporate PACs, of a type that would no longer be permitted under this Act, be terminated and their funds be fully disbursed within one year after enactment of the Act.
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