SB3599: Ban Corporate PACs Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
A bill to amend the Federal Election Campaign Act of 1971 to limit the authority of corporations to establish and operate separate segregated funds utilized for political purposes, including the establishment or operation of a political committee, to nonprofit corporations, and for other purposes.
Plain-language summary
This bill would change federal election law to restrict corporate political action , known as PACs. Currently, most corporations can create PACs to collect money from employees and spend it on elections. The bill would limit this ability to nonprofit corporations only, effectively banning PACs created by for-profit businesses. The bill was introduced in Congress but has not yet been voted on or sent to committee.
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SB3599: Ban Corporate PACs Act