Maryland State Senator Jamie Raskin to Introduce Legislation

From Jamie Raskin:

With my colleague Senator Brian Frosh, I will be introducing legislation next week to do several things in MD: (1) provide that no corporation can make political expenditures here without first getting an advance proxy vote indicating the approval of two-thirds of the shareholders (the fraction now required for mergers and acquisitions in our law); (2) forbid corporations with state contracts to engage in any political campaign expenditures; (3) deny corporations the ability to deduct campaign expenditures and contributions as a “reasonable business expense”; and (4) allow dissenting shareholders to get a pro rata rebate for expenditures they disagree with. I believe these measures, if we multiply them across the country, will help to contain the damage of the decision.

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