Corporate Tax

Why “no firm PAC cash” commitments matter

During the 2020 election cycle, corporate PACs contributed $ 172 million to federal candidates. That’s nearly 40 percent of all PAC donations, making them the largest source of PAC contributions in the country. And that doesn’t even include corporate donations to party and external committees or black money groups.

While most members of Congress accept PAC funds from corporations, those who refuse take an important step forward in fixing a broken system. They are sending a message to their constituents that they are putting people above corporate interests. It is also a significant sacrifice that hundreds of thousands of dollars remain on the table in a political system where every penny counts.

In 2020, a record 155 federal candidates across the country have pledged to turn down corporate PAC money and the movement continues to grow. Turning PAC money away from corporations was an important step forward for another, equally important reason. She raised the issue of fighting corruption and reforming campaign finance.

In fact, the positive response from voters across the county and across party lines to this pledge has helped create a lot of support and momentum for reforms like the Law for the People (HR 1 / S1). This critical anti-corruption and voting rights legislation, which aims to shed light on dark money, limit lobbyists and corporate interests, end partisan gerrymandering, and protect freedom of choice, is overwhelmingly supported by 83 percent, including three, of Americans – quarters of Republicans.

While rejecting corporate PAC funds is just one step and corporations have other avenues to pollute the political system, candidates who accept the promise of “no corporate PAC” lead charges against the corrupting influence of money in the country Politics on. Not only do they bring the issue to the fore, but they also address other issues in the system by pushing for laws like the For the People Act or a constitutional amendment to end unlimited spending.

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