ABC News:CEOs to Hill: Quit Calling Us for Campaign Cash

Written by admin on January 23rd, 2010

Abc News reports on the corporate CEOs advocating for public financing of elections.

Story here:

http://abcnews.go.com/Business/wireStory?id=9635062

Roughly 40 executives from companies including Playboy Enterprises, ice cream maker Ben & Jerry’s, the Seagram’s liquor company, toymaker Hasbro, Delta Airlines and Men’s Wearhouse sent a letter to congressional leaders Friday urging them to approve public financing for House and Senate campaigns. They say they are tired of getting fundraising calls from lawmakers — and fear it will only get worse after Thursday’s Supreme Court ruling.

The court ruled that corporations and unions can spend unlimited money on ads urging people to vote for or against candidates. The decision was sought by interest groups including one that represents American businesses, the U.S. Chamber of Commerce. They argued that restrictions on ads they could finance close to elections violated their free-speech rights, and the court agreed.

Congressional candidates who find themselves attacked by a flood of special-interest TV ads in the 2010 elections will likely reach out to their party’s biggest donors for money to help them counter the blitz.

“Members of Congress already spend too much time raising money from large contributors,” the business executives’ letter says. “And often, many of us individually are on the receiving end of solicitation phone calls from members of Congress. With additional money flowing into the system due to the court’s decision, the fundraising pressure on members of Congress will only increase.”

Among the others signing the letter are current or former executives of Quaker Chemical Corp., Brita Products Co., San Diego National Bank, MetLife and Crate & Barrel.

 

Leave a Comment