Warren Proposes Ban on Govt. Officials
Lobbying for Corporations.
Warren's proposal would
stop big companies from taking on
government officials as influencers.
Specifically, the plan is for businesses worth over $150 billion.
Officials also must have had a
"calm down" stretch of at least four years.
The strategy comes as Facebook and Amazon have spent large amounts on lobbying.
Giant market-dominant companies like Facebook, Pfizer, and Comcast strategically hire senior government officials who can leverage their contacts for corporate gain. If we want to root out Washington corruption, that must end—and I've got a plan, Elizabeth Warren, via Twitter.
Under the plan, a company's net profit would be fined 1 percent for the first penalty.
A second violation would
result in a 2 percent fine, and additional
violations would prompt a 5 percent fine.
Warren is a noted critic of Facebook and
has said she would break up
America's largest tech businesses.
She says that the
Office of Public Integrity (OPI)
would enforce the procedure.
Warren adds that the OPI would be a new ethics watchdog.
I am committed to stopping these companies from using their monopoly profits to vacuum up government officials to secure favorable treatment, Elizabeth Warren, via statement