This case study highlights how New Economy Project and the Public Bank NYC coalition are pressing for the creation of a public bank for New York City, as part of a broader vision for economic and racial justice.
Policy choices have allowed big companies to continuously use their power to preserve economic and democratic imbalances that maintain their wealth and influence at the expense of everyone else.
Until voters and elected leaders in Baltimore, Maryland took action to bring small donor public financing to their elections, big money in politics was a growing problem in the city.
"Although credit scores never formally take race into account, they draw on data about personal borrowing and payment history that is shaped by generations of discriminatory public policies and corporate practices that limit access to wealth for Black and Latinx families."
In 2016, a report from the progressive think tank Demosfound that most campaign dollars in local elections were coming from contributors who are white, male and high-income.
Supporting Seattle's voter-approved Democracy Voucher Program — a system designed to empower small donors and the candidates they support in city elections.
Women of color are generally underrepresented as campaign donors even though they vote at high rates, according to research by progressive think tank Demos.
New York City’s system has enabled candidates ― especially those from less affluent neighborhoods ― to more consistently rely on small donors in their districts.
The Supreme Court’s Citizens United decision has made it even more difficult for minorities to affect politics with money, said Adam Lioz, political director for the left-leaning advocacy group Demos.
Judge Kavanaugh's record raises serious concerns that he would expand the power of big money in politics, weaken voter protections, and insulate the president from the rule of law.
CAMPAIGN FINANCE
Chiraag Bains, Director of Legal Strategies for Demos
“Do you believe that the Constitution requires that we allow corporations and wealthy individuals the unfettered ability to translate their economic might into political power through campaign contributions and expenditures—even if it drowns out the voices of working-class Americans and erects barriers to candidates of color who lack access to big money and the mostly white donor class?”
In answer to the question, "why, after 200 years, [...] do we need an amendment to say that we are equal citizens?," Demos Senior Advisor for Legal Strategies Brenda Wright lays ou
While no law prevents outside donors, for example, from investing in the campaign of a low-income person, the likelihood that they’ll do so is low. The problem is social capital: Low-income people lack it, and so their personal networks do not often contain millionaires with open pocketbooks.
