On Anniversary of Citizens United, Squadron Unveils Bill to Rein In Corporate Spending

By David Freedlander

January 21, 2011 | 6:09 p.m

It was a year ago today that the Supreme Court, in the Citizens United decision, gave corporation unlimited power to spend money in elections without disclosing who they are donating to.

Today, Brooklyn Senator Daniel Squadron and Queens Assemblyman Rory Lancman announced that they have reintroduced a bill that would require corporations that give money to Albany to obtain shareholder approval of any donations and would force the businesses to produce a business rationale for the the bill both to their shareholders and to New York's Secretary of State.

"The idea is that we shouldn't have the corporate piggy bank become a place for executives to grind their own political ax," Squadron said. "It will make it more difficult for corporations and corporative executives to massively influence the political process."

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