Corporations Open Up About Political Spending
via The New York Times
In November 1999, Time Warner swore off “soft money” contributions to political campaigns. At the time, it might have seemed like a mistake. The company was about to join with America Online in a deal that would require approval from federal regulators. Yet Gerald M. Levin, Time Warner’s chairman, argued that soft money not only distorted American politics, it sullied the company as well.
We have come, it seems, full circle. Soft money is no longer the vehicle of choice for companies wanting to influence American voters. But ever since the Supreme Court ruled in the Citizens United case that corporations can contribute unlimited amounts to “independent” election efforts, business has faced no real constraints on ways to funnel cash, often anonymously, into the political process.
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