The global success of the American economy is founded on freedom. Innovation, creativity and the production of high-quality goods and services are all fostered in a free market economy where everyone has an equal opportunity to compete. Through freedom, innovation and competition, the American economy has become a global powerhouse of resilience and success.
Today free enterprise is under threat. An open and competitive system has been replaced by one in which corporations and special interests leverage political spending to buy favors and undermine the rules of the game. Due to legal rulings that deny our right to control the limits of money in our political system, huge multinational corporations, industry groups and billionaires can use concentrated wealth to give themselves an unfair advantage. What’s more, increasingly foreign entities are spending money in our elections to influence policy and regulatory outcomes.
Unfettered political spending undermines the power of consumers, the development and well-being of small businesses, and the sovereignty of our nation. It threatens economic growth and healthy markets and corrupts representative democracy. The result is a government that serves a concentrated wealthy elite competing in an ever-escalating race to accrue power.
“Without taking money out of politics, we will never address the great problems of our time,” says Rebecca Henderson, Professor of Strategy and General Management at Harvard Business School. “Businesses must recognize that free markets need free politics and must play a significant role in driving this change.”
Working to end the pay-to-play system of government isn’t about business versus everyone else. In fact, the majority of business owners agree that this system isn’t working for them.
Together, business people can help restore public trust in our government and strengthen our economy by transforming our marketplace to one that fosters honest competition among companies based on the value they create.
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75% of Americans and hundreds of business leaders agree on the solution to pay-to-play politics. More than 20 states have passed resolutions calling for an amendment to the U.S. Constitution to enable sensible, state-based limits to political spending and stop this destructive arms race for influence.
American Promise is the leading non-partisan organization working to unite Americans in crafting, passing, and ratifying such an amendment. American Promise is bringing together a network of business leaders stepping up to call for reform that will level the playing field.
Business leaders are uniquely positioned to get the attention of Congress and ask them to heed the voices of the majority of citizens and restore a government by the people, for the people. Many business leaders are deeply committed to representative government and free markets, and they share a concern for our country. Join the national wave of engagement on this issue — adding your voice to the millions of Americans who believe action is needed.
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