October 11, 2015
Securities and Exchange Commission
Dear Securities and Exchange Commission,
I am writing to urge you to return rule #4-637 to your agenda this year for swift enactment. We are, as citizens, overwhelmed on all sides by special interests buying the government, creating legislation to support themselves, at the jeopardy of the health and welfare of our citizens and our country. Government seems more bought, sold and rented than at any time I can remember and I began voting in the l960's, Everything favors the rich, the well connected, the self interested over the common good. As a nation, that features democracy, and aspired to the Constitution and to the Declaration of Independence, this underminds everything our forefathers fought for in the Revolutionary War. This is government by the powerful, for the wealthy, with no input from the ordinary citizens, because their input does not equal the money swelling public coffers from niche corporations and specialized interests. We deserve better. Or we will collapse as a democracy. The time to remedy it is now.
This rule, requiring public companies to disclose political spending and funding of trade and business associations, is essential to making our policy processes more transparent and holding corporations accountable for their political influence.
With no requirement for corporations to disclose political donations or funding of organizations, the public is left in the dark about how companies are using their money to hinder policies that are in the public interest.
This proposed rule has received more than one million comments of support--more than any other SEC rule. And 81 percent of Americans believe that corporations should only spend money on political campaigns if they disclose that spending publicly. Commissioners should not ignore this overwhelming public support and cave to pressure from business interest groups who want to continue to operate in secret.
Please enact rule #4-637.
Sincerely,
Barbara Beitel