Campaign Finance Bill Vetoed
CBIA applauds Governor Malloy’s veto of a bill (HB 5556) that would have imposed unreasonable rules and procedures on Connecticut businesses making campaign-related expenditures.
In his veto statement, the governor said he believed the bill “likely violate[s] the United States Constitution” and that it would have had a negative impact on businesses in Connecticut. CBIA agrees with the governor’s assessment and is pleased by his veto of the measure.
Under the proposal, companies were required to notify their shareholders of certain political campaign-related spending. Businesses (doing business in, organized in, or operating in Connecticut) would have to get prior approval from their governing body for any and all campaign-related disbursements over $4,000.
And the companies would be forced to post on their websites the actual votes of their governing bodies, including the names of the voting individuals and how they voted.
Groups as diverse as CBIA, the CCLU, the Connecticut Daily Newspapers Association and others agreed that this was poor legislation deserving of a veto.
With job creation at a premium, policymakers need to make sure to avoid any measures that would dampen Connecticut’s business environment and diminish employers’ confidence to grow here, expand operations, and create jobs.
For more information, contact CBIA’s Bonnie Stewart at 860.244.1925 or firstname.lastname@example.org.
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