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Blow to Amazon as Seattle passes new political spending restrictions

Blow to Amazon as Seattle passes new political spending restrictions

Tuesday, January 14, 2020, 8:23 AM

The Seattle City Council passed a bill Monday that establishes new-restrictions on corporate donations in local-elections, delivering a blow to the likes of Amazon. The bill prohibits companies from spending money on city-elections if atleast 5% of their stock is owned by foreign-investors. Amazon, which is headquartered in Seattle, would fall under that umbrella, as foreign investors hold atleast 9% of its stock, according-to-Reuters.
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