Ban Corporate PACs: Changes to Political Campaign Funding
This act limits the ability of regular corporations to establish and operate political action committees (PACs). From now on, only nonprofit organizations will be allowed to set up such funds. This aims to change how election campaigns are funded and reduce the influence of large companies in politics.
Key points
Only nonprofit organizations will be allowed to establish and operate political action committees (PACs).
Regular corporations will lose the ability to create their own political funds.
Existing corporate PACs must be terminated within one year of the act's enactment.
Status:
Expired
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