Warren Proposes Banning ‘Revolving Door’ of Govt. Officials Lobbying for Corporations

Democratic presidential candidate Elizabeth Warren released a plan Tuesday calling for “real accountability” to stop large corporations from hiring former government officials for lobbying purposes.

Citing “recent examples of the nation’s largest companies giving cushy jobs to the very people who went easy on them while serving in government,” Warren’s plan, titled “Breaking the Political Influence of Market-Dominant Companies,” advocates for ending the leveraging of government connections for business advantages.

“[Companies] shouldn’t be able to rig the system by scooping up every available former government official in an effort to get federal regulators off their backs. That’s why I have put forward proposals to get big money out of politics and to end lobbying as we know it — and it’s why I’m going further to slam shut the revolving door between government and giant, dominant firms,” Warren’s plan reads.

The release comes a day after an extensive New York Times report recounted details of Warren’s past legal relationships with big business.

Warren calls for a ban on “giant corporations, banks, and market-dominant companies” from hiring senior government officials for at least four years after they leave the government. Warren also proposes a fine to enforce and deter companies from ignoring the ruling, with a minimum of one percent of net profit for the first violation, two percent for the second, and at least five percent for every subsequent violation. The restrictions would be overseen by a new ethics watchdog, the Office of Public Integrity, which would also have the power to prevent certain violating companies from receiving federal contracts.

Warren also targets “soft corruption” in the Department of Defense’s dealings with corporate contractors, citing that five of the six companies that hire the most government officials are the top five recipients of government contracts over the last ten years.

“When federal contracts go to the most well-connected firms instead of the best people for the job, that’s corruption. It wastes taxpayer dollars — and when it comes to the DOD, threatens to undermine our national security. But good luck competing for contracts when those who receive the lion’s share of the deals also have unparalleled access to the officials who are awarding them,” Warren’s release reads.

Warren has been a prominent proponent of antitrust regulation on the campaign trail, writing in March that “it’s time to break up Amazon, Google, and Facebook.” Earlier this month, leaked audio revealed Facebook CEO Mark Zuckerberg calling a Warren presidency an “existential threat.”