SEATTLE (Reuters) – The Seattle City Council voted to agreed on Monday to approve campaign finance law prohibiting political contributions in local elections from companies with at least 5% foreign ownership.
PHOTO FILE: An aerial image looking south shows gas Works Park and Lake Union with downtown Seattle at a distance in Seattle, Washington, USA on Mar. 21, 2019. REUTERS/Lindsey Wasson
The Clean Campaign Act makes Seattle the largest city with such a prohibition after St. Petersburg, Florida, which adopted a similar ordinance in 2017.
Seattle’s move was widely viewed as an attempt to curb online retailers Amazon.com Inc., the employer of the largest city, which has its political curve in the last two years.
At least 9% of the Amazon stocks are owned by foreign investors, according to the Refinitiv financial data provider.
Amazon poured a record $1.5 million into a political action committee (PAC) that was run by the Seattle Metropolitan Chamber of Commerce to return to a slate of candidates watching as Pro-business in the November election council. Only two of the seven candidates are confirmed by PAC wins.
An Amazon spokesman, which has been butting topped with the city over the past two years efforts to tax more money on major employers, including Amazon, declined to comment.
According to a memorandum prepared by an analyst of the Council, in addition to Amazon, at least six other companies were among the top 20 contributors of the company to PACs in the 2019 election cycle of at least 5%…