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For Immediate Release

Press Release

"Enabling Corruption"

"The campaign finance provisions in the budget bill are a disgrace"
WASHINGTON -

Today, as the Senate prepares to vote on a $1.3 trillion spending bill that, among other issues, would ban the SEC from requiring corporations to disclose political spending, would bar the federal government from requiring contractors to disclose political spending, and would prevent the IRS from creating new standards for dark money groups, Morris Pearl, Chair of the Patriotic Millionaires and former managing director at BlackRock, released the following statement:

"The provisions in the budget bill forbidding any rules requiring disclosure of political spending by corporations or federal contractors are a disgrace. There's nothing to be gained by keeping shareholders, taxpayers, and the public in the dark about corporate political spending, this is just another attempt to keep our political system as opaque as possible so that wealthy donors can continue to wield enormous amounts of influence with no accountability. The only people who would be hurt by limitations on dark money and increased transparency would be wealthy donors and lawmakers who continue to overrule the will of the people for another pile of campaign cash. Every Senator that votes in favor of these changes is enabling corruption, nothing less."

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The Patriotic Millionaires is a group of high-net worth Americans who share a profound concern about the destabilizing level of inequality in America. Our work centers on the two things that matter most in a capitalist democracy: power and money. Our goal is to ensure that the country’s political economy is structured to meet the needs of regular Americans, rather than just millionaires. We focus on three “first” principles: a highly progressive tax system, a livable minimum wage, and equal political representation for all citizens.

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