Wisconsin plan would require shareholders to approve campaign contributions

MADISON (WPR) A corporation would have to have the backing of its shareholders before spending money on political campaigns under a plan being considered by state lawmakers. 

Wisconsin has long had a ban on corporations contributing directly to political candidates, but a recent U.S. Supreme Court case called that ban into question.  A proposal by Kenosha Democratic Sen. Robert Wirch would lift the ban, but with conditions: every two years, corporations would have to get the majority of their shareholders' approval before spending money to influence state or local elections.

Wirch says corporate cronyism has hurt the country and calls his plan a movement back toward “corporate democracy”. He says requiring shareholders to approve election contributions will call attention to a corporation, and bring it to the attention of shareholders and the public.

Wirch's plan would also force corporations to disclose how much they're spending on campaigns within a couple months of an election.

The state Senate already passed a plan earlier this session that would have required more disclosure by interest groups.  It would have also limited how much they can spend.  But that plan stalled after the U.S. Supreme Court ruling cast doubt on any attempts to limit corporate or union spending in elections.

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Information from Wisconsin Public Radio, www.wpr.org