Today, Senate Democrats introduced the Democracy for All Amendment, a proposed Constitutional amendment that would overturn the Supreme Court’s decision in Citizens United v. FEC among other key court rulings concerning money in politics. The amendment, led by Senators Tom Udall (D-NM) and Jeanne Shaheen (D-NH), would affirm the right of Congress and state legislatures to regulate campaign financing and set rules and limits on corporate spending in public elections.
Morris Pearl, former Managing Director at Blackrock, Inc. and Chair of the Patriotic Millionaires, issued the following statement in response to the amendment’s introduction:
“Citizens United has wreaked havoc on American politics by allowing deep-pocketed corporations and powerful special interests to spend unfathomable amounts of money on political campaigns. The ruling, among several other key court cases addressed in this proposed amendment, has transformed our political system into a pay-to-play scheme where only the wealthiest among us can make their voices heard while average Americans are hung out to dry. The basic principle of democracy is one person, one vote – not one dollar, one vote.
If we continue to allow corporations and the rich to keep a stranglehold on American politics, our democracy will increasingly only reflect the interests of an elite few and reach an untenable point. That’s why we welcome today’s introduction of, and encourage swift action on, the Democracy for All Amendment. The Patriotic Millionaires have long taken the position that everyone in this country should have the same political influence as us wealthy folks, and we are thrilled to support this amendment with that mission in mind. It’s time for this country to wipe clean the dark stain that Citizens United has left on our democracy. The Democracy for All Amendment sends a timely and powerful message that democracy is not for sale.”