logo

Survey: 87% of Business Executives Support Campaign Finance Reform

image
Created: 25 July, 2013
Updated: 21 November, 2022
2 min read
// Christopher Howells

Credit: Shutterstock.com // Christopher Howells Credit: Shutterstock.com

The Committee for Economic Development (CED) released a series of reports Wednesday finding an overwhelming majority of surveyed business leaders favored a 'major overhaul' of campaign finance law. The CED is a 501(c)(3) non-profit, public-policy organization that focuses on issues that impact the business community.

The report titled 'American Business Leaders On Campaign Finance And Reform' was compiled by a bipartisan team of polling groups. Hart Research (Democratic) and American Viewpoint (Republican) surveyed a total of 302 business executives via online questionnaire. No party preference voters were not included in the study.

The subsequent issue brief, 'Hiding in Plain Sight: The Problem of Transparency in Political Finance,' stressed the necessity for new and increased transparency of political spending whilst observing robust first amendment protections.

The reports touched on four key areas that have become the focal point for reform, pay-to-play politics, outside spending, disclosure, and contribution limits.

Pay-to-play:

The CED survey found 95 percent of respondents agreed at least some elements of the US system of financing elections system were 'pay-to-play' while 64 percent of those felt it is a serious problem. Only 5 percent would "not describe it as a pay-to-play system."

Not simply corruption itself, but the appearance of corruption has a corrosive impact on the nation's political economy. Even if pay-to-play politics isn't taking place outright, the perception remains that money talks in Washington.

Outside Spending:
The advent of Super PACs only three years ago has shifted the way elections work. As such those surveyed by CED did not see outside groups favorably and overwhelmingly disapproved of them. The report reads, "70% Believe Current Super PACs Should Be Made Illegal." Their ability to raise and spend unlimited sums continues to be a large concern for not only average voters, but business executives as well.
Disclosure:

There has been an explosion of non-disclosed political spending since 2006. Over the last three election cycles, the percentage of total election spending that was not disclosed to the FEC has ballooned from 1.1 percent in 2006, up to almost 30 percent in 2012.

According to the brief, this is attributed to the, " current disclosure laws and the Federal Election Commission’s narrow interpretation of these statutes, the Court’s assumption has proven to be faulty. Political donors and spenders are finding it increasingly easy to avoid public scrutiny, as a growing number of organizations take advantage of porous rules to finance campaign activity without revealing the sources of their funding."
Contribution Limits:

Even though unlimited contributions to 'outside' organizations was upheld as constitutional, 89 percent of respondents felt there should be limits of some sort. Seventy-eight percent felt strongly about the issue as well.

IVP Existence Banner

These four pieces of the campaign finance puzzle have gone woefully unresolved and present a significant hurdle facing voters' attitude towards the political process. Whether or not the nation's institutions outside of the business community will take heed remains to be seen.

Latest articles

votes
Wyoming Purges Nearly 30% of Its Voters from Registration Rolls
It is not uncommon for a state to clean out its voter rolls every couple of years -- especially to r...
27 March, 2024
-
1 min read
ballot box
The Next Big Win in Better Election Reform Could Come Where Voters Least Expect
Idaho isn't a state that gets much attention when people talk about politics in the US. However, this could change in 2024 if Idahoans for Open Primaries and their allies are successful with their proposed initiative....
21 March, 2024
-
3 min read
Courts
Why Do We Accept Partisanship in Judicial Elections?
The AP headline reads, "Ohio primary: Open seat on state supreme court could flip partisan control." This immediately should raise a red flag for voters, and not because of who may benefit but over a question too often ignored....
19 March, 2024
-
9 min read
Nick Troiano
Virtual Discussion: The Primary Solution with Unite America's Nick Troiano
In the latest virtual discussion from Open Primaries, the group's president, John Opdycke, sat down ...
19 March, 2024
-
1 min read
Sinema
Sinema's Exit Could Be Bad News for Democrats -- Here's Why
To many, the 2024 presidential primary has been like the movie Titanic - overly long and ending in a disaster we all saw coming from the start. After months of campaigning and five televised primary debates, Americans are now faced with a rematch between two candidates polling shows a majority of them didn’t want....
19 March, 2024
-
7 min read