Executives Call On Lawmakers To Pass Campaign Funding Bill

01.26.10 | FL News Team

Even corporate America is unhappy about the U.S. Supreme Court's decision to overturn campaign finance rules. More than 40 current and former executives penned a letter last week calling for Congress to approve taxpayer funding for congressional campaigns. It was sent to Senate Majority Leader Harry Reid and House Speaker Nancy Pelosi one day after the Supreme Court ruled that unions and companies can spend unlimited amounts of money on ads in political campaigns. In the letter, the business leaders say they are tired of U.S. lawmakers hitting them up for campaign funds.

 The letter states that the current political system is broken, and the Supreme Court's decision exacerbates the problem. The executives call the influence of special interest corporate and union money "corrosive," adding that it impairs the government's ability to address the nation's problems. The letter calls on lawmakers to pass the Fair Elections Now Act, which would create a voluntary alternative system for financing elections. It would allow candidates to run for office on both small contributions and limited public funds. So far, the legislation has been stalled in different levels of committees. The letter was signed by executives from Playboy Enterprises, Men's Warehouse, Crate & Barrel and others.