John,

According to Americans for Tax Fairness reporting, billionaires spent more than $1 billion in the 2022 midterm election and have already spent more than $600 million in this year’s presidential election. But those are just the donations that are being publicly reported.

Dark money groups don’t need to disclose their donors, meaning that billionaires are spending way more to influence our elections than is being reported.

So, even as we fight for policies such as the Billionaire Minimum Income Tax to tax the annual wealth gains of households worth over $100 million to constrain the power and influence of billionaires and ultra-millionaires, there is much more that must be done to reform our broken campaign-finance system.

That’s why we’re fighting for the DISCLOSE Act, which would require all dark money groups to disclose donors who have given $10,000 or more during an election cycle.

Click here to send a message to your senators and representative and demand Congress pass the DISCLOSE Act to ensure full disclosure of Big Money’s influence in our elections.

All Americans should be concerned about the undue influence of millionaires, billionaires, and corporations on our democracy. And, while Republicans have worked to block passage of this bill in Congress, a former Republican Chairman of the Federal Election Commission, Trevor Potter, said:[3]

“Voters have a right to know who is spending to influence their votes and our government. Since my time with the FEC, the amount spent by corporations and other special interests seeking to influence our elections has risen exponentially. Much of that spending has come from interests who intentionally hide their identities from the public. Without knowing who is funding the political ads designed to sway their votes, voters are not able to fully evaluate the messages they see and make an informed decision—information the Supreme Court has said voters are entitled to have. This is why Congress must pass the DISCLOSE Act—a bill that guarantees the First Amendment promise that all Americans are able to fully participate in the electoral process.”

Take action today and send a message to Congress to pass the DISCLOSE Act and demand transparency in our elections and our democracy.

I have recently joined Americans for Tax Fairness Action Fund as the new Legislative Director. Please keep an eye out for more updates from me on critical legislation moving through Congress. Together let’s keep fighting for a democracy that truly is one person, one vote.

Thank you for taking action today,

John Foti
Legislative Director
Americans for Tax Fairness Action Fund

[1] Report: Billionaire Spending Topped $1 Billion For the First Time in 2022 Elections
[2] The Billionaire Family Business
[3] WHITEHOUSE, CICILLINE REINTRODUCE DISCLOSE ACT TO END CORRUPTING INFLUENCE OF DARK MONEY IN AMERICAN DEMOCRACY

-- David's email --

John,

Our campaign finance system is broken, allowing dark money groups to spend unlimited sums of money to influence our elections without reporting the corporate or billionaire donors behind this political spending.

That means that even as our latest report, “The Billionaire Family Business”, shines a spotlight on how 50 billionaire families have already spent a whopping $600 million to influence the 2024 presidential election―they have almost certainly spent much more in their attempt to control our democracy and protect their vast fortunes.

That’s why, in addition to fighting for tax policies that constrain the wealth and power of America’s 806 billionaires such as Representatives Steve Cohen (D-TN) and Don Beyer’s (D-VA) Billionaire Minimum Income Tax and Senator Bernie Sanders’s For the 99.8% Act, we’re also demanding Congress pass critical campaign finance reform.

The DISCLOSE Act, introduced in both the House and Senate, would require all organizations―including dark money groups―to disclose donors who have given $10,000 or more during an election. This will ensure critical transparency in our democracy―allowing voters to know who is spending money to influence our elections as well as judicial nominees, including to the Supreme Court.

Take action today and send a message to your senators and representative urging them to pass the DISCLOSE Act to provide transparency on corporate and billionaire influence in our democracy.

As the lead sponsor in the U.S. Senate, Sheldon Whitehouse, said upon introduction of the bill:[1]

“A toxic flood of dark money has given billionaires and special interests a powerful way to rig the system secretly in their favor―dark money even enabled these same interests to capture our Supreme Court.”

Senate Majority Leader Chuck Schumer added:

“One of the gravest dangers undermining our democracy is the power of dark money in our elections. The DISCLOSE Act would provide the transparency the American people want and need, pulling back the veil on billionaires and giant corporations trying to make sure government works for them.”

Ever since the Supreme Court opened the floodgates to Big Money’s influence in our elections in their disastrous 2010 Citizens United Supreme Court decision, billionaire and corporate influence in our democracy has skyrocketed. Just look at this chart reflecting billionaire contributions:

Demand transparency around billionaires spending in our elections! Take action today and tell Congress to pass the DISCLOSE Act.

Thank you for working to protect our democracy from billionaires and their unlimited resources.

David Kass
Executive Director
Americans for Tax Fairness Action Fund