Ban Corporate PACs Act

Hozzl · 2023-03-15T19:00:22Z

Explore the details of House Bill 2692 Ban Corporate PACs Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Government Operations and Politics. Stay informed on legislative developments.

3/15/2023, 7:00 PM

Summary of Bill HR 2692

Bill 117 HR 2692, also known as the Ban Corporate PACs Act, is a piece of legislation introduced in the US Congress. The main goal of this bill is to prohibit corporations from forming political action committees (PACs) and making contributions to federal candidates, political parties, or other PACs.

If passed, this bill would effectively eliminate the ability of corporations to use PACs as a means of influencing elections and policy decisions. Supporters of the Ban Corporate PACs Act argue that it would help to reduce the influence of big money in politics and ensure that elected officials are accountable to the interests of their constituents rather than wealthy corporate donors.

Opponents of the bill, on the other hand, argue that it would infringe on the free speech rights of corporations and limit their ability to participate in the political process. They also raise concerns about the potential impact on fundraising for political campaigns and the ability of corporations to advocate for policies that align with their business interests. Overall, the Ban Corporate PACs Act is a controversial piece of legislation that raises important questions about the role of money in politics and the influence of corporations on the democratic process. It remains to be seen whether this bill will gain enough support to pass in Congress and become law.

Congressional Summary of HR 2692

Ban Corporate PACs Act

This bill prohibits for-profit corporations from establishing or operating a separate segregated political fund (commonly known as a political action committee or PAC). Existing funds must terminate not later than one year after the date of enactment of this bill.

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Current Status of Bill HR 2692

Bill HR 2692 is currently in the status of Bill Introduced since April 20, 2021. Bill HR 2692 was introduced during Congress 117 and was introduced to the House on April 20, 2021. Bill HR 2692's most recent activity was Referred to the House Committee on House Administration. as of April 20, 2021

Bipartisan Support of Bill HR 2692

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 2692

Primary Policy Focus

Government Operations and Politics

Potential Impact Areas

Corporate finance and managementElections, voting, political campaign regulationPublic contracts and procurementTax-exempt organizations

Alternate Title(s) of Bill HR 2692

Ban Corporate PACs ActTo amend the Federal Election Campaign Act of 1971 to limit the authority of corporations to establish and operate separate segregated funds utilized for political purposes, including the establishment or operation of a political committee, to nonprofit corporations, and for other purposes.Ban Corporate PACs Act

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