Hawaii enacted Senate Bill 2471 on May 14, 2026, limiting certain corporate political spending and adding related disclosure requirements. Supporters describe the law as a response to concentrated financial influence and declining trust in elections. Opponents raise First Amendment concerns and argue that governments should regulate disclosure rather than decide which organizations may participate in political advocacy. An independent expenditure is political spending advocating for or against a candidate that is not coordinated with the candidate’s campaign. Corporations should not be able to purchase political access with money collected from customers and shareholders, but lawmakers also should not silence criticism by labeling it corporate speech.
Where should Hawaii draw the line on corporate election spending?